President Patricia McGuire issued the following statement to the community about Trinity’s student loan policies.
Dear Trinity Students, Faculty and Staff,
Some of you may have read the story in today’s Washington Post or heard other news items about a scandal that’s brewing in the student loan industry. At some large universities, financial aid officers have accepted perks, payments and other enticements from private student loan lenders. This is highly inappropriate, and clearly forbidden at Trinity under our employment policies that prohibit all employees from accepting gifts or any enticements from any of our vendors.
So, as you hear about these stories, please know that, first, Trinity’s staff in the Financial Aid Office act with the highest integrity, and their work is solely focused on what’s best for our students. No one in this institution has received any perks or payments from any student loan source. Nor does Trinity accept payments in exchange for doing business with any student loan companies.
Second, please know that Trinity does not do business with any of the private loan agencies mentioned in these stories, except Sallie Mae which is one of the largest student loan companies historically.
Third, Trinity’s financial aid staff do maintain a small list of high quality lenders for those students and families who want recommendations for private (not federal) loans. These lenders make no payments to Trinity for being on our list, and we review them to be sure that their practices meet our standards for integrity and good value.
Please know that our staff is here to help you. At this time of year, and at the beginning of the school year as well, you may receive notices in your mail at home from different companies who want to persuade you to consolidate your student loans with them. Before you sign any papers, you should sit down with your financial aid counselor to review these offers to be sure that you are getting the right kind of service, and that the agency is one of high quality and integrity.
We urge you to seek out the advice and assistance of our excellent staff in the Office of Financial Aid whenever you have questions about your loans or any other financial aid issue.
President Patricia McGuire