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University of Maryland endorses rules for financial aid officers
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College Park (Map, News) - The regents of the University of Maryland voted Sunday to support a code of conduct that would bar financial aid officers from receiving money, gifts or trips from loan companies in exchange for promoting their services.
Maryland Attorney General Douglas Gansler drafted the code in response to recent state investigations that found that lenders paid universities to be placed on their preferred lender lists.
In order to receive state funds, the university already required its employees to avoid conflicts of interest, spokesman John Buettner said. The new code simply clarifies the rules for financial aid officers, he said.
Although the code bars aid officers from receiving payments from lenders, they can still volunteer to be on the advisory boards of lending institutions. A strong relationship between schools and lenders can be beneficial, but financial officers should be up front about it, said Devin Ellis, the student council president for the university system.
“It helps to dispel the fear that some people might have that this kind of relationship is a negative for them when, in fact, it could be very positive,” Ellis said.
Financial aid officers are in an ideal position to tell lenders what students need, Buettner said.
“They’re in the trenches, they see what students need,” he said. “Applying for student aid can be a daunting, confusing process.”
Although the regents endorsed the code, they will not make it system-wide policy until Congress votes on student loan reform bills, which it is expected to do next month, Buettner said.
Financial aid will increase in importance as the University of Maryland system grows, Chancellor William Kirwan said. Enrollment is expected to increase by 25 percent in the next six years, with low-income students accounting for a majority of this growth, he said.
U.Md. approves creation of public health school
The University of Maryland board of regents has approved the establishment of a new school of public health at the College Park campus.
The school will provide four new degree programs: a master of health administration, a doctorate in health services, a doctorate in epidemiology, and a doctorate in maternal and child health.
The program will help address a projected shortage of health workers in the state, Regent Patricia Florestano said. In five years, the program will have about 200 graduate students, she said.
No new facilities will be built to house the new school, University of Maryland spokesman John Buettner said. Instead, the school will build upon existing programs, he said.
The board approved the addition of the school at its meeting Friday. – Kate Winston
