Occasionally families may need to borrow additional funds to help cover the cost of a student’s education. Bethany provides a list of lenders for families to select from. Families are not in any way required to choose from the list provided. A link to additional lenders and their terms is available on the private lenders page for families who would wish to look at more options.
Students are encouraged to always seek out Federal Student Aid options first, as these may have better terms than those of the agencies listed.
BETHANY COLLEGE CODE OF CONDUCT FOR FINANCIAL AID PROFESSIONALS
Financial aid administrators at Bethany College are expected to always maintain exemplary standards of professional conduct when carrying out their responsibilities, specifically when dealing with any entity involved in the student financial aid process. To that end, any employee of Bethany College who works with outside agencies in the processing of student loans will abide by the following code of conduct.
- We will not enter into any revenue-sharing arrangement with any lender.
- We will not accept any gift* of more than nominal value from any lender, guarantor or loan servicer.
- We will not receive compensation for consulting services to any lender.
- We will not assign a specific lender to first-time borrowers.
- We will not refuse to certify a loan based on the borrower’s choice of lender.
- We will not participate in any opportunity pool with lenders.
- We will not permit any lender staff to assume financial aid staff functions.
- We will not receive compensation for membership on an advisory board.
* The following items are not considered gifts for this purpose.
- Brochures, workshops or training related to loans, default prevention or financial literacy.
- Food, refreshments, training or informational material furnished as part of a financial aid professional training session.
- Borrower benefits provided by the lender to all students at the institution.
- Entrance and exit counseling, as long as the school controls the counseling and “such counseling does not promote the products or services of any specific lender.” (GEN-08-12, p. 70)
- Philanthropic contributions that are not made in exchange for loan volume.