OSU Dual Summit
BILLING & MONEY MATTERS
May 3, 2005
George Windom, Business Affairs
Emilio Vejil, Financial Aid & Scholarships
Does Money Matter?
Checklist of institutional decisions
• Policy and calendar issues
• Billing
• Disbursements
• Collections
• Consumer information
• Agree on Common Definitions
Institutional Decisions
Memo of Understanding
• Participants
• Setup options
• Financial agreements
• Sharing information (FERPA)
Policy Considerations
• Residency requirements for
tuition rates
• Tuition refunds
• Late fees/Interest
• Holds – registration & transcripts
Variations on a Theme
• Concurrent enrollment
• Partner schools
• Joint program
Calendar Considerations
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Financial Aid disbursement
Billing cycle
Payment due dates
Refund schedule
Institutional Decisions
How to designate student as dual
enrolled?
• unique identifier
• campus code
• rate code
• memo in comment field
• one-time or updated by term
Institutional Decisions
Will students be eligible
for “fee-based” services?
(i.e. Health Center, Rec Center)
• always
• if they’re enrolled
• if they pay
Billing Issues
Joint bill or individualized?
• clarity for students
• note of dual enrolled on statement
• managing the student account
• address updates
Billing Issues
Individual statements because:
• tuition rates
• accounting (A/R v. Revenue)
• reconciliation (due to/due from)
Financial Aid Disbursements
• Timing
• Credit hour eligibility
– OFAX, RYAINFO
• Parameters in refund process
Collections
• Continuing student?
• Registration/transcript holds
• Coordinate balance due
To Exit or Not to Exit
• NSLDS, OFAX, RYAINFO
• Run loan records against
registration info
• Getting credit hour info slow and
manual to populate
Training
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Operational
Other institution’s policies
Contacts and references
Students (have to manage two
sets of rules)
Consumer Information
Institutions are required to provide
consumer information, such as:
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What students will be charged
How and when the charges will occur
Options for payment
If they receive financial aid, when and
how they will receive the proceeds
• Financial Aid requirements (i.e. sign
promissory notes, level of enrollment)
Common Business Sense
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Money flow
Information sources
Transaction integrity
Internal controls
Customer service
Examples
Student attending at OFAX
participating schools, half-time
each (F/A and Billing seamless)
Student Full-time at other non-OFAX
school (F/A doesn’t have info)
Dual Enrollment Summit
Money Matters
?’s
Thank you