SHU Supports New Financial Aid Code of Conduct

News Story:

Sacred Heart University has collaborated with fellow members of the Connecticut Conference of Independent Colleges and the Connecticut Attorney General’s Office to develop a new code of conduct for financial aid in the state. The University has adopted the new code of conduct.

SHU is committed to helping students and families find the most affordable options for attending college, while coordinating all programs associated with financial assistance. The team of personal counselors in the University’s Department of Student Financial Assistance helps students and their families obtain grants, scholarships and other forms of financial aid.In 2006-2007, nearly 90 percent of SHU undergraduate students received financial aid, amounting to nearly $23 million in University aid.

To assist students whose aid packages include loans, universities typically offer a list of preferred lenders that offer competitive rates, borrower benefits, and the best customer service. Last year, after thorough investigation, SHU identified seven lenders that offered the lowest rates and best packages in a process that is focused on the best interests of the students. This process was both transparent and well documented.

Like most universities, Sacred Heart has also followed the practice of negotiating discounts wherever possible to get the best prices when purchasing related financial aid tools and services from third-party vendors. Since 2003, SHU received discounts in the amount of $15,000 from a software provider that was also a preferred lender. This was not disclosed to applicants who applied for financial aid.

As an emphasis of its commitment to the new code of conduct and in cooperation with the Attorney General’s office, SHU has agreed to contribute the equivalent of this discount and an additional $10,000 to the Curtis Commuter Program scholarship to benefit its Connecticut students.

Sacred Heart University focuses on offering unparalleled academic opportunities that are rooted in the Catholic intellectual tradition and the principles of engaged learning. It works to create an absorbing, customized educational experience for each student. SHU’s Department of Student Financial Assistance is dedicated to helping students assemble the resources needed to fund a Sacred Heart education and to make their educational dreams a reality.