1.22.4 Preferred Lender Lists

In the event that the University promulgates a list of preferred or recommended lenders of similar rankingor designation ("Preferred Lender List"), then:

• Every brochure, Web page or other document that sets forth a Preferred Lender List must clearly disclose the process by which the University selected lenders for said Preferred Lender List, including but not limited to the criteria used in compiling said list and the relative importance of those criteria.

• Every brochure, Web page or other document that sets forth a Preferred Lender List or identifies any lender as being on said Preferred Lender List shall state in the same font and same manner as the predominant text on the document that students and their parents have the right and ability to select the education loan provider of their choice, are not required to use any of the lenders on said Preferred Lender List, and will suffer no penalty for choosing a lender that is not on said Preferred Lender List.

• The University's decision to include a lending institution on any such list and the University's decision as to where on the list the lending institution's name appears shall be determined solely by consideration of the best interests of the students or parents who may use said list without regard to the pecuniary interests of the University.

• The constitution of any Preferred Lender List shall be reviewed no less than annually.

• No lending institution shall be placed on any Preferred Lender List unless the said lender provides assurance to the University and to student and parent borrowers who take out loans from said lending institution that the advertised benefits upon repayment will continue to inure to the benefit of student and parent borrowers regardless of whether the lending institution's loans are sold.

• No lending institution that to the best of the University's knowledge after reasonable inquiry, has an agreement to sell its loans to another unaffiliated lending institution shall be included on any Preferred Lender List unless such agreement is disclosed therein in the same font and same manner as the predominant text on the document in which the Preferred Lender List appears.

• No lending institution shall be placed on any one of the University's Preferred Lender Lists or in favored placement on any one of the University's Preferred Lender Lists for a particular type of loan, in exchange for benefits provided to the University or to the University's students in connection with a different type of loan.

• No lending institution shall be placed on any one of the University's Preferred Lender Lists unless said lending institution has agreed with the Missouri Attorney General to abide by a Lending Code of Conduct, unless the Missouri Attorney General informs the University that it no longer offers such agreements.