Philadelphia Technician Training Institute (PTT) has set forth this policy to codify and clarify our ethics standard with regard to education loan providers (lenders).
Preferred” lender lists and endorsements of lenders: PTT will not create, maintain, or distribute any listing of “preferred” or “recommended” education loan providers, nor will school staff endorse any particular third-party private education materials on behalf thereof.
Promotion of Education Loans: PTT does not engage in a “revenue sharing” arrangement with any private education loan provider, nor enter into any arrangement designed to promote the products, services, and/or public image of such entities.
Non-Discrimination in Loan Certification: The Financial Aid Office will certify any private education loan upon request for any eligible student through any private education loan provider. Financial Aid staff will neither favor nor discriminate against any particular provider in giving counsel to student and parent borrowers. However, nothing in this policy shall be construed to prevent Financial Aid Office personnel from giving students and parents’ good counsel to assist the borrower in making an educated loan product/lender choice.
Prohibition Against Gifts: Neither PTT nor any of its employees (or their family members) will accept any gift, gratuity, favor, discount, entertainment, hospitality, benefit, or any other item from any private education loan provider. Nothing in this section shall be construed as prohibiting PTT employees from conducting normal banking business with a lending institution that is also an education loan provider; or receiving discounts, premiums, or gifts that are available to the general public based upon that normal banking business.
Contracting Arrangements/Advisory Groups: PTT employees may not accept from any private education loan provider any type of fee, payment, expense reimbursement, or other financial benefit as compensation for consulting, advisory, or other services provided relating to education loans.
Staffing Assistance: PTT does not utilize private education loan provider staff to work in our offices, nor will we allow them to perform the work of school personnel in other locations.