Refund Management

SAFRA One Year Later

It's been a year since the Student Aid and Fiscal Responsibility Act took effect. How is it working and what is to come?

The Student Aid and Fiscal Responsibility Act (SAFRA), passed in May 2010 as part of the Healthcare Reform Act, was an attempt to rein in the student loan industry and save money by taking private lenders out of the equation. But a year later, educators, parents, and legislators are asking, is the program delivering on its goals?

Fast refunds for college students, with no overdraft fees

Nelnet is offering preloaded debit cards as an option for university tuition refunds
 

A Bursar's Best Friend

Why and how campuses are implementing automated refund management

There are 18 million college students, 40 percent of whom receive federal financial aid every spring and every fall. The average student, after class drops and other adjustments, gets 2.5 refunds totaling $1,300. That's a lot of money and a lot of transactions that have to be made according to a stringent set of regulations.

Setting Price in the New Economic Climate

Considerations beyond the institution's competitive market position

We have written before about the importance of considering your institution's market position relative to competitors when planning future price increases. When sticker price position is higher than "prestige" position (based on publicly available measures like test scores, U.S. News rank, and selectivity) institutions often see declining demand.

A Tale of Two Refunds

Refund Solutions Should Be Simple for Everyone. Why Complicate Them for Students?

"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness.

Charles Dickens penned the opening lines of "A Tale of Two Cities" to describe French Revolutionary times, but they could easily apply to the modern world of student refunds. Or, more specifically, to two of the primary alternatives to paper checks.

One is simple, secure and smart. The other can be convoluted, controversial and painful for students.

A Tale of Two Refunds

Refund Solutions Should Be Simple for Everyone. Why Complicate Them for Students?

Charles Dickens penned the opening lines of “A Tale of Two Cities” to describe French Revolutionary times, but they could easily apply to the modern world of student refunds. Or, more specifically, to two of the primary alternatives to paper checks. One is simple, secure and smart. The other can be convoluted, controversial and painful for students.

College Gains Peace of Mind While Students Receive Faster Refunds

Advantages of partnering over building pay off as a pioneering college eliminates risks associated with e-refunds

Blinn College has been in the business of educating students since 1883, a point of pride for its administrators. Even as it honors its pioneering roots, the college also has evolved to meet the needs of students. Founded initially to train young men for the ministry, Blinn became the first county-owned junior college in Texas and one of the largest of the state’s 50 community/junior college districts.

College Gains Peace of Mind While Students Receive Faster Refunds

Advantages of partnering over building pay off as a pioneering college eliminates risks associated with e-refunds.

Blinn College has been in the business of educating students since 1883, a point of pride for its administrators. Even as it honors its pioneering roots, the college also has evolved to meet the needs of students. Founded initially to train young men for the ministry, Blinn became the first county-owned junior college in Texas and one of the largest of the state’s 50 community/junior college districts.

Welcome to STREAMLINED

Greetings.

Welcome to the third Streamlined of 2009! My colleagues and I are proud to continue this series of publications designed to inform college and university administrators about new and innovative methods of streamlining business office operations.

A tedious two-week refund process gets cut to one day at a California college

At Antelope Valley College, a new approach to issuing financial aid refunds becomes an instant success for administrators and students

Until last January, issuing financial aid refunds at Antelope Valley College was a long, tedious process. Instruction files were sent from the school to a remote district office, which printed checks and sent them back to the school to be stuffed into envelopes and mailed to students.

It was a time-consuming and costly procedure, explained Sherrie Padilla, director of financial aid at the community college, located in Lancaster, Calif. “We needed to investigate other ways to disburse refunds to students,” she said.

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