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.

Our Commitment to Transparency

Federal and state regulators have been and continue to create laws and codes that all colleges and universities are adopting that guarantee sound financial aid practices. These laws and codes help ensure that colleges and universities make loan decisions that are beneficial to their students. Below are some of the codes we follow.

Student Loans

As of July 1, 2010 all colleges and universities are required to process federal student and parent loans through the government’s Federal Direct Loan Program. Private lenders no longer participate in the federal loan programs however they may still offer private student loan programs.

Private Student Loans can have higher interest rates, fees, and varying terms that may be less favorable than those terms and conditions available with the federal loan programs. These loans are based on the Prime Lending Rate or the LIBOR index which fluctuate throughout the year. Private Student loans programs require credit checks and often require a credit-worthy co-signer for the loan to be approved.

The University of New Haven does not provide a recommended lender list for Private Student loans, nor do we suggest one lender or loan program over another. We encourage students and parents to research all private loan options carefully as interest rates, fees, terms, and conditions can vary widely. We suggest you visit individual lender websites for the most updated terms and conditions of their loan program.

There are agencies in some states that also offer competitive Private Student loan programs. You may wish to select a local bank, credit union, or lender with whom you have an established relationship, or you may search the internet to find a lender that best fits your needs. Students and parents have the right to select a lender of their choice. Students and their families will not be penalized in any way for choosing the lender of their choice.

Undergraduates should click here for more information on how to apply for your educational loans. If you are a graduate student please click here for information on how to apply for your loans.