Code of Conduct
Prohibiting Conflicts of Interest
The Massachusetts Maritime Academy Office of Student Financial Services works to ensure its employees adhere to the highest ethical behavior and professional practices. We abide by the following legislated requirements prohibiting a conflict of interest regarding the administration of Title IV student loans and the responsibilities of an agent of the Academy.
- Employees shall not solicit or accept any gift having a monetary value of more than a nominal amount from a lender, guarantor or servicer. Certain items are not considered gifts, such as training materials, meals at training events and philanthropic contributions not related to student loans.
- Employees shall not enter into any revenue-sharing arrangements with any lender where the lender provides or issues a loan to a student or student’s family in exchange for the school recommending the lender or the lender’s loan products in exchange for a fee or material benefit including profit or revenue sharing that benefits the school or a school’s employee or agent.
- Employees shall not accept from any lender or 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.
- The Academy shall not request or accept funds from any lender for private education loans, including funds for an opportunity pool loan, to its students in exchange for the school providing promises of a specified loan number or volume or a preferred lender arrangement for educational loans.
- Employees shall not accept or request any assistance for financial aid office staffing from any lender.
- Employees shall not receive any compensation for sitting on a lender's advisory board.
- Employees shall not direct borrowers to a particular lender or refuse, impede or delay any loan certifications.
- No action will be taken by financial aid staff that is for their personal benefit or could be perceived to be a conflict of interest.