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Financial Aid Code of Conduct

The Medical University of South Carolina (MUSC) Office of Student Financial Aid is committed to conducting all financial aid operations with integrity, transparency, and in the best interest of students and their families. This Code is aligned with the Higher Education Opportunity Act (HEOA) and National Association of Student Financial Aid Administrators (NASFAA) principles.

Scope

This Code applies to all financial aid staff and any employee with responsibilities related to student financial aid or loans.

Guiding principles

The following principles guide each member of our team:

  • Act in the best interest of students
  • Maintain professionalism and integrity
  • Provide accurate, unbiased information
  • Ensure equitable treatment
  • Comply with all laws and regulations
  • Protect student confidentiality in accordance with the Family Educational Rights and Privacy Act (FERPA)

Standards of Conduct

  1. Conflict of interest: Employees must avoid real or perceived conflicts of interest and may not award aid to themselves or family members.
  2. Revenue-sharing prohibition: MUSC does not enter into revenue-sharing arrangements with lenders.
  3. Gift ban: Employees may not accept gifts from lenders, including meals, travel, or anything of value.
  4. Compensation prohibition: Employees may not receive consulting fees or compensation from lenders.
  5. Private education loan conflicts: Employees may not steer borrowers toward any lender, receive financial benefits from lenders, or take actions that are not in the borrower’s best interest.
  6. Lender interaction: MUSC does not accept compensation from lenders or give any lender a competitive advantage.
  7. Borrower choice: Borrowers may choose any lender without interference or delay.
  8. Accuracy and transparency: All communications must be clear, accurate, and distinguish among aid types and costs.
  9. Professional conduct: Staff must act ethically, disclose conflicts of interest, and avoid preferential treatment.
  10. Staffing restrictions: No lender-provided staffing is permitted, except for limited training or emergency support.
  11. Enforcement: Violations may result in disciplinary action.

Implementation

This Code applies to all relevant personnel and is reviewed periodically.