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Ethics in Financial Aid The Times Have Changed

Ethics in Financial Aid The Times Have Changed. Goals . Open Discussion, We’re all in this together! Define the standards of conduct governing financial aid professionals before and after April 2007 Evaluate the circumstances that led to the intense scrutiny of the financial aid profession

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Ethics in Financial Aid The Times Have Changed

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  1. Ethics in Financial AidThe Times Have Changed

  2. Goals • Open Discussion, We’re all in this together! • Define the standards of conduct governing financial aid professionals before and after April 2007 • Evaluate the circumstances that led to the intense scrutiny of the financial aid profession • Re-define the purpose of financial aid professionals and the partnerships needed to best serve the students

  3. Definition of Ethics A set of moral principles or values, a theory or system of moral values; the principles of conduct governing an individual or group. (Webster Ninth New Collegiate Dictionary)

  4. Ethics and mission in Education: To educate individuals to think and act as ethical leaders and responsible citizens in the global community.

  5. Choosing between 2 rights: An ethical dilemma is a situation that often involves an apparent conflict between moral imperatives, in which to obey one would result in transgressing another.

  6. Our Partners in Higher Education • Students • Parents • Government (State and Federal) • Lenders/Guarantee Agencies/Servicing Centers • Media • Public • Private Sector Business • Others?

  7. Dilemmas in the Financial Aid Office • Why do we have ethical dilemmas? • Why are we scrutinized? • What ethical dilemmas do we face? • Prior to April 2007, what resources were available to guide us? - NASFAA Code of Conduct – 1999 - Prevailing Business Practices - Institutional Conflict of Interest polices - Others?

  8. Ethics in the Financial Aid Office: Post April 2007 • How many Code of Conduct Agreements have you signed? - Office - Institutional - State - Regional - NASFAA • College Cost Reduction and Access Act: How will this impact our ethics? • When will the scrutiny end?

  9. Past and Present: Ethical Relationships with Our Partners • Students/Families • Governments (State/Federal) • Media • The Public • Private Sector Business • Lenders/Guarantee Agencies/Servicing Centers

  10. Present and Future:What has and will change? • Student Loan Benefits • Institutional Budgets – Operating, Printing • Technology • Outreach Activities • Lender Lists • Marketing Strategies

  11. So, what can we do to best serve our students and protect our profession? • Talk to them, Keep them informed • Avoid conflicts of interest • Regularly assess our operations to ensure top quality service and current financial aid options available

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