1. Preferred Lender Guidelines

   Preferred or suggested lender lists used by colleges will be based solely on the best interests of students and parents who may use the list and without regard to the financial interests of the college.

2. Lender Disclosures

   All preferred or suggested lender lists maintained by a college will clearly and fully disclose the criteria and process used to select the lenders included on such lists. Students and parents will also be told that they have the right and ability to select a lender of their choice, regardless of whether such lender appears on a school's lender list.

3. Revenue Sharing

   Colleges will not accept anything of value from any lender in exchange for any advantage sought by the lender. Lenders will not be required or allowed or pay to be placed on a school's preferred lender list.

4. Gifts and Trips

   College employees will not accept anything of more than nominal value from any lender. This includes gifts or trips of any kind.

5. Advisory Board Membership 

   College employees will receive no compensation or anything of value for serving on the advisory board of any lender.

6. Lender Identification

   No employee of any lender may work in or provide staffing in a college financial aid office. In addition, colleges shall direct employees of lenders to clearly identify themselves as employees of the lender and to never identify themselves as college employees when meeting or speaking with students or parents.