The following information is being provided in compliance with federal regulations for the administration of Federal Student Aid:
National Student Loan Data System (NSLDS) Notification
If the school enters into an agreement with a potential student, student, or parent of a student regarding a Title IV, HEA Loan the school must inform the student or parent that the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data.
Private Education Loan Disclosures
At this time University of Arkansas Grantham and/or any related organizations do not provide information regarding Private Education Loans from any lender. UA Grantham’s policy is to have students use the William D. Ford Federal Direct Loan Program.
University of Arkansas Grantham will not certify student eligibility for a Private Education Loan without first informing the borrower that (a) federal financial assistance (including grants and loans under Title IV) may be available, and (b) federal loans may provide more advantageous terms to the borrower than private loans.
Self-Certification Form
The University is required to provide the Self-Certification form and information needed to complete the form to any enrolled or admitted student (or to the parent applicant of an enrolled or admitted student) upon the student’s request for a Private Education Loan Self-Certification form.
Students may contact the Office of Financial Aid by email, at finaid@uagrantham.edu, or by phone, at 1-866-850-2980, to obtain a copy of the Self-Certification form. Students may also obtain a copy of the form from their Private Education Loan lender and submit it to the Office of Financial Aid for completion or confirmation.
University of Arkansas Grantham is not required to track the status of the Private Education Loan after providing the Self-Certification form to the applicant or to the private lender.
Code of Conduct for Education Loans
University of Arkansas Grantham employees will be held accountable to the following standards of conduct:
Employee Compensation Prohibition– No Employee of the University or “university-affiliated organization” (as defined in 34 C.F.R. 682.200(b)(5)(i)(A)(8)) shall accept or solicit anything of other than nominal value from a student loan lender. “Nominal value” means a total retail value of not more than ten dollars ($10.00) as calculated over a 12 month period, or as defined by a University policy consistent with applicable federal and state law. This paragraph shall not prohibit University employees from conducting non-student lending business with any lender or accepting or soliciting anything of other than nominal value in any activity unrelated to student loans.
Lender Advisory Board Restrictions– A University employee shall not accept any remuneration or reimbursement of expenses for serving as a member of or otherwise participating on a student loan lender’s advisory board or committee, consistent with applicable federal student loan requirements.
Financial Relationship Prohibition– A University employee shall not accept from any lender of affiliate of any lender any fee, payment, or other financial benefit (including the opportunity to purchase stock) as compensation for any type of consulting arrangement or other contract to provide services to a lender or on behalf of a lender relating to education loans. In addition, a person employed in the financial aid office of the school, or who otherwise has direct responsibilities with respect to educational loans or other financial aid, shall:
Avoid any equity or other interest in any student loan lender other than a remote interest
Avoid consulting or similar financial relationships with student loan lenders
Comply with the School’s Conflict of Interest Policies & Procedures
Institutional Compensation Prohibition–
The University will not accept anything of value from a student loan lender in exchange for any advantage or consideration provided to the lender related to its education loan activity. This prohibition will include, but will not be limited to: (1) the School’s receipt from any lender of any computer hardware for which the School pays below market prices, (2) Preferential rates for, or access to, a lender’s other financial products and (3) printing costs or services. Notwithstanding anything else in this paragraph, the School may accept assistance as contemplated by 34 C.F.R. 682.200(b).
The University shall not engage in revenue sharing with a student loan lender. “Revenue sharing” means any arrangement under which a student loan lender pays a higher education institution or an affiliated entity or organization a certain sum, fee, percentage or other material benefit calculated in relationship to the volume of loans received by the lender from students of the institution.
Staffing Assistance from Lenders– The University shall not request or accept from any lender any assistance with call center or financial aid office staffing, including in-person school-required entrance or exit counseling, except as permitted by applicable federal student loan requirements. The University shall ensure that any lender employees on campus are accurately represented as such and not misidentified as University agents or employees. While lenders may provide professional development training and participate in financial literacy outreach activities, lender employees must clearly disclose the name of the entity preparing any written materials and may not promote the lender’s products.
Lender Restriction Prohibition – The University shall not restrict borrowers to any particular type of lender (e.g. those that process loans electronically).
Preferred Lender Lists/Arrangements and Annual Report on Preferred Lender Arrangements
University of Arkansas Grantham does not participate in the Federal Family Education Loan (FFEL) Program therefore we do not have or use any preferred lenders nor does University of Arkansas Grantham have a preferred lender list for Private Education Loans. University of Arkansas Grantham participates in the William D. Ford Federal Direct Loan Program, and encourages borrowers to use this program.