Tuition Management Systems, LLC (TMS), a leading provider of education payment solutions for higher education and private K-12 schools, is excited to introduce its newest product addition - the Refund and Disbursement Management Solution (“TMS Refund Solution”). This new product expands the current roster of services that TMS has provided to the education industry for over 25 years, which include affordability counseling, comprehensive billing services, payment plans, funds disbursement, and payment processing.
The TMS Refund Solution is an online software product that was created specifically for higher educational institutions. The TMS Refund Solution is an intuitive, easy to use program that includes a robust administrator portal that allows administrators to manage the student refund process from start to finish, while adhering to Title IV requirements governing refunds. Schools have complete control over the entire process including the ability to quickly and easily resolve exception items.
This new product offers a student portal that contains financial management tools for students in receipt of a refund, work study or campus pay check disbursement. Students can choose to receive disbursements via paper check, direct deposit, or via the new Visa® prepaid card offering from TMS, the educatecard.