When a student applies for financial aid, Washburn University may include loans as part of the award offer. A loan is money that is borrowed and must be repaid with interest when the student graduates or ceases to enroll on a half-time basis. The following are loan programs that Washburn University participates in.
Federal Direct Loans accepted by the student will be submitted to the National Student Loan Database System (NSLDS). All students have access to review their full loan history through NSLDS. Additionally, this information is made accessible to guaranty agencies, lenders, and institutions that are deemed to be authorized users.
Student Loan Code of Conduct
Preferred Lender Guidelines - Washburn University does not offer a list of experienced lenders to students and parents. Washburn University does not assign a lender of private loans to students. Washburn University does participate in the Federal Direct Lending program for federal loans.
Lender disclosures - Students and parents have the right and ability to select a lender of their choice. Washburn University strictly prohibits the refusal to certify or delay of certification of a loan based upon choice of lender.
Revenue Sharing - Washburn University does not accept anything of value from any lender in exchange for any advantage sought by the lenders. Lenders are not required or allowed to pay to be placed on the University’s experienced lender lists.
Gifts, Trips, and Compensation - Washburn University employees do not accept anything of more than nominal value from any lender. Washburn University prohibits employees from accepting offer of funds for private loans. Washburn University prohibits employees from entering into consulting/contractual agreements with lenders.
Advisory Board Membership - Washburn University employees receive no compensation or anything of value for serving on the advisory board of any lender.
Lender Identification - No employee of any lender may work in or provide staffing in Washburn University’s Financial Aid Office. Washburn University directs employees of lenders to clearly identify themselves as employees of the lenders and never identify themselves as Washburn University employees when meeting or speaking with students or parents.