All of SUNY Cortland’s suggested lenders and their affiliate companies believe that it is important to adhere to a set of business and ethical standards in their interactions with our students and families. Our suggested lenders have agreed to:
1. Conform to all relevant state and federal laws and regulations regarding educational lending, including fair credit reporting and consumer information laws as appropriate.
2. Provide assurance to SUNY Cortland that all discounts, rate-reductions or other benefits offered to borrowers on our suggested lender list will remain available to borrowers under the same terms listed, regardless of whether the lender subsequently sells the loan to another lender or secondary market.
3. Clearly label all direct-mail advertising with the lender’s full name and return address and avoid any external markings on the envelope designed to imply an official, governmental, or urgent nature.
4. Clearly identify the lender’s full name and purpose on all web sites/web advertising and never operate web sites under names intended to conceal or distort the true purpose of the site.
5. Never engage in advertising for educational loans through the use “ad-ware” or “pop-ups”; nor engage contracted marketing firms to perform these functions.
6. Routinely counsel students appropriately regarding Federal Consolidation Loans, and on the potential consequences of consolidation of Federal Perkins Loans (particularly for teachers who may be eligible for loan forgiveness programs).
7. Encourage borrowers to consider federal education loans as a preferred option before non-federal education loans. Never market a product or otherwise encourage borrowers to consolidate federal education loans into non-federal private loans (except in rare and exceptional borrower circumstances).
8. Notify the College promptly of all “private” education loan approvals/pre-approvals for SUNY Cortland students/parents; as these loans may affect the student’s eligibility for federal student loans and other financial assistance.
9. Never engage in a direct-marketing campaign for Federal Stafford, Federal Consolidation, Federal PLUS, non-federal alternative loans, credit cards, consumer banking services, etc. directed specifically toward SUNY Cortland students/families, including any on-campus or near-campus credit card marketing campaigns.
10. Defer to the expertise of the SUNY Cortland Financial Advisement Office in all matters of financial advising and counseling regarding payment of costs associated with attendance at SUNY Cortland.
11. Apply these same standards to all affiliated entities, subsidiaries, contractors and servicers; to the extent these entities are involved in student lending operations.
If a lender fails to live up to these standards, the lender will not be listed on any of our “suggested lender” lists at