OSU Dual Summit

1
OSU Dual Summit

• BILLING MONEY MATTERS
• May 3, 2005
• George Windom, Business Affairs
• Emilio Vejil, Financial Aid Scholarships

2
Does Money Matter?

• Checklist of institutional decisions
• Policy and calendar issues
• Billing
• Disbursements
• Collections
• Consumer information
• Agree on Common Definitions

3
Institutional Decisions

• Memo of Understanding
• Participants
• Setup options
• Financial agreements
• Sharing information (FERPA)

4
Policy Considerations

• Residency requirements for tuition rates
• Tuition refunds
• Late fees/Interest
• Holds registration transcripts

5
Variations on a Theme

• Concurrent enrollment
• Partner schools
• Joint program

6
Calendar Considerations

• Financial Aid disbursement
• Billing cycle
• Payment due dates
• Refund schedule

7
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

8
Institutional Decisions

• Will students be eligible
• for fee-based services?
• (i.e. Health Center, Rec Center)
• always
• if theyre enrolled
• if they pay

9
Billing Issues

• Joint bill or individualized?
• clarity for students
• note of dual enrolled on statement
• managing the student account
• address updates

10
Billing Issues

• Individual statements because
• tuition rates
• accounting (A/R v. Revenue)
• reconciliation (due to/due from)

11
Financial Aid Disbursements

• Timing
• Credit hour eligibility
• OFAX, RYAINFO
• Parameters in refund process

12
Collections

• Continuing student?
• Registration/transcript holds
• Coordinate balance due

13
To Exit or Not to Exit

• NSLDS, OFAX, RYAINFO
• Run loan records against registration info
• Getting credit hour info slow and manual to
  populate

14
Training

• Operational
• Other institutions policies
• Contacts and references
• Students (have to manage two sets of rules)

15
Consumer Information

• Institutions are required to provide consumer
  information, such as
• 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)

16
Common Business Sense

• Money flow
• Information sources
• Transaction integrity
• Internal controls
• Customer service

17
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
  doesnt have info)

18
Dual Enrollment Summit

• Money Matters
• ?s
• Thank you