Page:United States Statutes at Large Volume 122.djvu/3338

 12 2 STA T .3 31 5PUBLIC LA W 11 0– 315 — AU G .1 4, 200 8‘ ‘ (i ii )anof fi cer, e mpl o y ee, or con t ractor of a len d er, gu arantor, or s er v icer of education loans from serving ona b oard of directors, or serving as a trustee, of an institution, if t h e institution has a w ritten conflict of interest policy that the board member or trustee must recuse themselves from any decision regarding education loans at the institution . ‘‘( 4 ) INTERAC T IO N W IT HB ORROWER S . —T he institution shall not— ‘‘( A ) for any first - time borrower, assign, through award pac k aging or other methods, the borrower ’ sloantoapar- ticular lender or ‘‘( B ) refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency. ‘‘( 5 ) P ROHIBITION ON O F FERS OF F U N D S FOR P RI V ATE L OANS.— ‘‘(A) PROHIBITION.—The institution shall not re q uest or accept from any lender any offer of funds to be used for private education loans (as defined in section 1 4 0 of the Truth in L ending Act), including funds for an oppor- tunity pool loan, to students in e x change for the institution providing concessions or promises regarding providing the lender with— ‘‘(i) a specified number of loans made, insured, or guaranteed under this title; ‘‘(ii) a specified loan volume of such loans; or ‘‘(iii) a preferred lender arrangement for such loans. ‘‘(B) D EFINITION OF OPPORTUNIT Y POOL LOAN.—In this paragraph, the term ‘opportunity pool loan’ means a private education loan made by a lender to a student attending the institution or the family member of such a student that involves a payment, directly or indirectly, by such institution of points, premiums, additional interest, or financial support to such lender for the purpose of such lender extending credit to the student or the family. ‘‘( 6 ) BAN ON STAFFIN G ASSISTANCE.— ‘‘(A) PROHIBITION.—The institution shall not request or accept from any lender any assistance with call center staffing or financial aid office staffing. ‘‘(B) C ERTAIN ASSISTANCE PER M ITTED.— N othing in paragraph (1) shall be construed to prohibit the institution from requesting or accepting assistance from a lender related to— ‘‘(i) professional development training for financial aid administrators; ‘‘(ii) providing educational counseling materials, financial literacy materials, or debt management mate- rials to borrowers, provided that such materials dis- close to borrowers the identification of any lender that assisted in preparing or providing such materials; or ‘‘(iii) staffing services on a short-term, non- recurring basis to assist the institution with financial aid-related functions during emergencies, including S tate-declared or federally declared natural disasters,

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