The Association of American Universities has issued a statement of principles designed to govern colleges’ creation of preferred-lender lists. Among other things, the six principles state that college officials should :

Pick lenders based on “student borrowers’ best interest.” Inform students and parents that they may choose a lender that is not on the list. Disclose the criteria they used to select the lenders. Not accept any personal benefit from lenders.

Robert M. Berdahl, president of the association, which comprises about 60 leading research institutions, said the principles had been created “to help guide campus leaders as they review these relationships in the wake of recent developments.” An investigation by the New York attorney general, Andrew M. Cuomo, has revealed that some colleges took kickbacks from loan companies on their preferred-lender lists.

“As institutions seek to ensure that their implementation of the federal loan program always puts the interests of students first,” Mr. Berdahl said, “these principles offer them a framework for the measures they are considering.”

In a statement, Mr. Cuomo said the principles were a “good start,” but too vague. He urged the association to adopt his code of conduct, which he said was “far more comprehensive and specific.” Several schools and the nation’s four largest lenders have accepted the code, some under the threat of legal action. —Kelly Field