What are the main concerns students and the community have concerning the affordability of higher education?
There are two major concerns that seem to be the most popular worries of students and the general public.
The Payment Card Industry Data Security Standard (PCI DSS) was developed to encourage and enhance cardholder data security and to facilitate the broad adoption of consistent data security measures globally. The PCI DSS has just been updated to version 3.0, effective January 1, 2014. Some of the changes have far-reaching impacts, and the new version also includes many clarifications, real-life examples and flexibility built-in to enable college and university departments to meet the intent of the requirements.
Business office leaders need to balance affordability and access with protecting their institution from bad debt. Reducing student accounts receivable is possible, even when increased enrollment and graduation rates are a priority. This web seminar, originally broadcast on November 14, 2014, featured Loretta Chrzan-Williams, director of student accounts at SUNY Monroe Community College (Rochester, N.Y.), who discussed how her institution decreased bad debt and improved student GPAs through implementing a simple four-step plan.
Along with minimal fees, students want a variety of options for receiving refunds from their higher ed institution. More stringent regulations and public scrutiny are also prompting institution leaders to look at the adequacy of their refund options. This web seminar, originally broadcast on October 10, 2013, addressed the long term trends that are changing the landscape of student refunds, and presenters discussed a new refund disbursement method available from Nelnet Business Solutions that benefits both students and institutions.
As the average student loan debt rises, financial literacy is essential for graduates to successfully manage their post-college lives. Some institutions are going beyond just educating students about tuition payment plans and federal financial aid options. Others, like Creighton University (Neb.) are offering full financial literacy programs to educate students on money management during the college years, and more importantly, beyond.
The issues of affordability and retention challenge colleges to develop sustainable tuition policies that address the current economic climate yet educate students on the importance of paying their tuition bills on a timely basis. This web seminar, originally broadcast on October 16, 2012, discussed how Nelnet’s solutions, combined with tighter school fiscal policy, can help students meet their tuition obligations even if they do not receive all the financial aid they anticipated.
Every college strives to maximize electronic payments, but there will always be a need for departments to take in-person payments via check, cash, credit and debit card. Schools that handle these payments and the resulting departmental deposits the way they did 10 years ago, with paper forms and manual data entry, may be missing opportunities for efficiencies and savings. This web seminar, originally presented on April 26, 2012, looked at the benefits realized by the University of Illinois after implementation of the Nelnet cashiering solution.