As a participant in the Federal Direct Loan Program, Austin Community College processes federal loans directly through the federal government. ACC is committed to the following best practices with respect to private loans:
- ACC will not enter into any revenue-sharing arrangement with any lender.
- ACC and its employees whose work relates to financial aid will not solicit any gift and will not accept any gift of more than a nominal value from student loan companies, guaranty agencies, or loan servicers.
- ACC will not assign a borrower’s loan to a particular lender or refuse or delay certification of a loan based on a borrower’s selection of a lender or servicer.
- ACC will not request or accept from any lender an offer for student loan funds, including funds for an opportunity pool loan, in exchange for a promise of a certain number of loans or a specified loan volume.
- ACC will not allow employees of student loan companies to staff its Financial Aid Office or other financial aid offices or to answer student or parent calls.
- ACC employees whose work relates to financial aid will not accept any fee, stipend, honorarium, or other payment to consult for or provide services to a lender guaranty agency or loan servicer.
- ACC employees whose work relates to financial aid may serve on an advisory board, commission, or group established by a lender, guarantor, or group of lenders or guarantors,however, will not accept anything of value (other than reimbursement for reasonable expenses) for such service.