LCSC Student Loan Code of Conduct for Alternative Loans
LCSC adheres to and enforces the following Student Loan Code of Conduct for Alternative Loans.
- LCSC receives no revenue, trips, or gifts from any lender in exchange for promoting one lender over another.
- Borrowers have the right and ability to select any lender of their choice. All students desiring to borrow a private (alternative) loan must choose a lender. A lender will never be chosen solely by LCSC personnel. Any lender that participates in a private (alternative) loan program is allowable, and LCSC will never purposely delay the certification or disbursement of the loan.
- Detailed information about borrower benefits, fees and the sale of loans is provided on each lender's website.
- LCSC is not in a contractual relationship nor is it receiving offers of funding from any lender in the private loan business.
- LCSC’s Financial Aid Office staff does not currently serve on any lending institution's advisory board. When and if any staff does sit on an advisory board, they are prohibited from receiving anything of value for serving.
- LCSC does not and will not allow any lender to identify themselves as employees of LCSC; LCSC does not allow employees of lenders to work in or provide staffing for the Financial Aid Office.