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Financial Services

From UB

Cohort-based budget planning for financial aid

December, 2015
Mary Piccioli is an enrollment management consultant at Scannell & Kurz.

With freshman discount rates once again on the rise, it will be more important than ever for institutions to review whether their methodologies for developing a budget for financial aid are sufficiently robust.

Using a cohort-based budget approach is critical for understanding the implications of replacing a “cheaper” senior class with a more heavily discounted freshman class.

Texas A&M launches state’s largest-ever fundraising bid

December, 2015

Texas A&M University’s campaign to raise $4 billion for research, facilities and scholarships represents the largest-ever fundraising effort in a state known for going big. It’s also the second largest effort announced by a higher education institution.

Division I institutions divided on athlete perks

November, 2015
Nayef H. Samhat, president of Wofford College, believes cost of attendance would limit athletics program options for students at schools like his. The Wofford’s men’s basketball team emerged from the 2014-15 season as Southern Conference regular season champions and Southern Conference Tournament champions.

Several prominent Division I conferences (including the American Athletic Conference and Conference USA) have expressed support for cost of attendance, and Division I schools such as the University of Virginia and The University of Alabama now provide it; but not all member schools are on board.

Campus fraud firewalls

November, 2015
Of the 23 types of organizations studied by the Association of Certified Fraud Examiners (ACFE) in 2014, education—including higher ed—had the fifth highest frequency of fraud.

Embezzlement originating from any corner of campus can threaten any college and university. As for the losses, they can be big. Here are four ways technology and vigilance can help head off financial fraud.

Sponsored Case Studies & Features

Indiana Wesleyan University saves hundreds of thousands of dollars with ACI Worldwide

December, 2015
New campus-wide e-commerce system gives students convenience while reducing the administrative burden

Handling tuition payments and donations for an institution with 15,000 students can be a complicated process that is time consuming for finance staff—especially without an integrated electronic system. Before 2011, that was exactly the situation at Indiana Wesleyan University (IWU), the largest private institution in the state.

Excellent service differentiates financial provider at New York institution

December, 2015
SUNY Broome partners with Higher One to offer all electronic payment services through one system

Meeting the needs of every student at SUNY Broome is a critical part of the upstate New York institution’s mission. And when a large portion of the 7,000-student population is made up of first-generation and non-traditional students, meeting their needs requires paying particular attention to campus finances.

EMV transforms payment security: What this means for colleges and universities

November, 2015
Don Smith

From tuition payments at the bursar’s office to book
purchases at the campus store, there is frequent credit
card and debit card activity at higher ed institutions. And a
big change in the world of card-based payments has come
about in the form of EMV.

Nelnet Tuition Payment Plans improve student experience at four University of Colorado campuses

October, 2015
Nelnet Tuition Payment Plans improve student experience at four University of Colorado campuses

In an effort to best serve a population of over 60,000 students on four campuses, business office leaders across the University of Colorado system (CU) recently decided to evaluate their options to determine if a more efficient payment plan solution existed