J-670.1 Neutral Lender Practices and Student Loan Disclosures
| Authority | Vice President of Student Service/CCSO |
| Effective Date | February 25, 2026 |
| Revision Date | |
| Reviewed Date | |
| Related Policies | |
| Related Forms, Policies, Procedures, Statute |
C-370 – Employee Code of Ethics Wisconsin Technical College System Board Policy 503 Wis. Stats. §19.41, et seq. TCS 6.06(1), Wis. Adm. Code Code of Ethics for Public Officials and Employees 20 U.S.C. § 1019 15 U.S.C. § 1638(e) 12 CFR § 1026.47 |
This procedure applies to all Employees who provide financial aid information to Students or who process private education loan certifications.
NEUTRAL LENDER PRACTICES
The College:
- Does not recommend, rank, or endorse any private education loan lender.
- Processes private education loans from all eligible lenders with equal timeliness.
- Does not maintain a Preferred Lender List (PLL) or any standing list of recommended lenders.
STUDENT INFORMATION
The College will provide Students, in writing, with information that:
- Confirms that Students may use any lender who is eligible to make education loans.
- Explains the availability of federal and state loan options.
- Encourages Students to explore federal and state loans, which are guaranteed, regulated, and may be more advantageous, before pursuing private or alternative loans.
- When requested, the College will provide a neutral, non-endorsed list of lenders that have historically provided private loans to Students, based solely on objective historical data; such information is informational only and presented in a neutral format.
PRIVATE LOAN CERTIFICATION
When a private education loan certification request is received, the College will:
- Process the request in a manner that is consistent across all eligible lenders.
- Provide the Student with written information encouraging review of federal and state aid options and offering counseling before disbursement.
SUPPORTING MATERIALS
The College will maintain separate compliance materials (historical lender list, web content, and staff guidance) to support consistent application of this procedure and alignment with Policy J-670.