NASFAA Meets in Washington
The National Association of Student Financial Aid Administrators met July 8-11 in Washington, D.C. Over 3,000 financial aid administrators attended more than 90 sessions on topics ranging from financial literacy to media savvy.
NASFAA is a nonprofit membership organization that represents more than 12,000 financial aid professionals at nearly 3,000 colleges, universities and career schools across the country. It is the largest postsecondary education association with institutional membership in Washington, D.C. It is the only national association with a primary focus on student aid legislation, regulatory analysis and professional development for financial aid administrators.
The primary goal of the Association is to promote maximum finding and effective delivery of financial assistance to students who are in need of additional funds to pursue their education beyond high school.
The theme for this year’s conference was “NASFAA…Professionals Creating Opportunities Every Day.” Dallas Martin, president of the association for the last 32 years, announced his retirement effective December 15.
On everyone’s mind was the student loan scandal of the last several months. Some colleges were found to have received kickbacks from lenders in exchange for promoting that lender. Of concern was the practice of “preferred lenders lists” that represent lenders that have the best rates and student services. Critics point out that the practice can be a source of unethical actions. NASFAA responded by formulating a Code of Conduct to supplement the Statement of Ethical Principles.
CODE OF CONDUCT FOR INSTITUTIONAL FINANCIAL AID PROFESSIONALS
An institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity. In doing so, a financial aid professional should:
Refrain from taking any action for his or her personal benefit.
Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.
Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.
Adopted by Board of Directors, May 2007. ♦