Financial Aid Code of Conduct

As a member of the National Association of Student Financial Aid Administrators (NASFAA) we adhere to their Statement of Ethical Principles and Code of Conduct. In addition the University has adopted the Connecticut Code of Conduct.

The University of New Haven endeavors to provide students and their families with the best guidance possible in the selection of their educational loan provider. With thousands of student loan lenders to choose from UNH has tried to assist our students and their families in their lender search by conducting a yearly lender review process. During this process numerous educational loan providers respond to an annual Request For Information (RFI) questionnaire sent by the Financial Aid Office. This document provides our staff with valuable information about a lenders ability to serve the needs of UNH students. Based on their responses, the aid office compiles a list of suggested lenders for particular types of loans. Students and parents may choose to use one of these suggested lenders as the provider of their loan(s) or they have the right to select a lender of their choice. Students and their families will not be penalized in any way for choosing a lender not on our suggested lender list. Neither the University nor its employees receive any form of compensation from a lender for inclusion on oursuggested list. Our selection of lenders is based solely on the best interests of student borrowers and their parent, using the following criteria which are listed below in order of our perceived importance of each factor.

1. Borrower Benefits: Front end/Repayment benefits to borrowers. These may include reduced interest rates, payment of default/origination fees, and flexible repayment options.
2. Customer Service: The ability and availability of a lender to answer questions and resolve loan processing issues are very important .
3. Loan Processing: The lender's ability to work efficiently and effectively with the university. Electronic services such as on-line payment, MPN processing, and Electronic Funds Transfer (EFT) are convenient and save time and effort.
4. Stability/Reputation of Lender: Lenders should have an established history of providing quality services and products to students and their families. A lender must meet industry standards and be well regarded by the financial aid community.                        
   

 All of our suggested lenders will be required to disclose to borrowers:

• whether the loan may be sold to another Lender
• that the loan terms and benefits will not change if the loan is sold to another lender
  
• that the loan benefits may change if the borrower chooses to consolidate his or her loans.