Alaska Vocational Technical Center participates in the Federal Direct Lending Program; however, we allow our students to borrow under Alternative Loan Programs through banks and lending institutions of their choice. In keeping with the Higher Education Opportunity Act (HEOA) of 2008 and our Program Participation Agreement we abide by the following Student Loan Code of Conduct that prohibits:
- Revenue sharing arrangements with any lender.
- The solicitation or acceptance of gifts from a lender, guarantor or servicer by anyone with responsibilities with respect to loans at the institution.
- Receipt of any fees, payments or other financial benefits (including a stock purchase option) by anyone with responsibilities with respect to loans from a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
- The assignment of a first-time borrower’s loan to a particular lender or refusing to certify or otherwise delay certification of any loan regardless of the lender or guaranty agency the borrower selects.
- The acceptance of any funds to be used for private education loans in exchange for the institution providing concessions to the private lender.
- Requesting or accepting assistance with call center staffing or financial aid office staffing from any lender.
- Any employee with responsibilities with respect to financial assistance at the institution who serves on an advisory board or commission of a lender or guarantor accepting anything of value from the lender or guarantor except reimbursement for the reasonable expenses of serving on the board or commission.