St. John’s University has established a Code of Contact for Educational loans in accordance with 34 CFR 668.14(b) (27)
The University does not have a preferred lender arrangement or maintain a Private Loan Preferred lender list.
The University’ Student Loan of Conduct, in accordance with federal guidelines, prohibits the following:
Revenue Sharing: the University from entering into any revenue-sharing agreements with any lender, guarantor or servicer;
Gifts: employees of the Office of Student Financial Services from receiving gifts from a lender, guarantor, or loan servicers;
Consulting or Other Contracting Arrangements: employees of the Office of Student Financial Services from accepting from any lender or affiliate of any lender any fee, payment, or other financial benefit as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender;
Directing Borrowers: the University from directing students to a particular lender;
Private Loan certification: employees of the University from refusing to certify or delay certification of any loan based on the borrower’s selection of a particular lender or guaranty agency;
Offers of Funds for Private Loans: the University from accepting from any lender an offer of funds to be used for private education loans, including funds for an opportunity pool loan;
Staffing Assistance: the University from requesting or accepting from any lender any assistance with call center staffing or financial aid office staffing;
Advisory Board Compensation: employees of the Office of Student Financial Services who serve on an advisory board, commission, or group established by a lender, or guarantor or group of lenders or guarantors, from receiving anything of value from the lender, guarantor, or group of lenders or guarantors for such service, except that the employee may be reimbursed for reasonable expenses as defined in 668.16(d) (2) (ii).