From: Kathy Modesitt (K-Modesitt@indstate.edu)
Date: Tue Apr 04 2000 - 17:14:50 EDT
Last week I sent the following message on ACH processing. I
had some requests to post the responses so I have included
them below each question. Thanks again to all who
responded.
Kathy Modesitt
Assistant Director Bursar Operations
Indiana State University
We would appreciate answers to the following questions
from schools that currently use ACH for student refunds.
Which office(s) collects/maintains the student bank and account number data?
Bursar and Financial Aid 1
Financial Aid 1
Bursar 5
What percentage of your students use ACH for student refunds?
Less than 2% (this school had just began using ACH)
14%
65% on loans, 45% on grants
One school only used ACH for refunds over $1,000.
One school used ACH for all financial aid refunds.
25%
60%
Do you send something to the student which advises them the transfer
has been made to the bank account? What office handles this and what
method do
they use to advise the student?
Nothing sent 2
Bursar, letter 3
Bursar, email 1
Financial Aid, email 1
What software do you use in conjunction with the process? Is this software
different than that which you use to maintain your student accounts?
Different or processing outside of current system 5
Same 1
Blend of systems 1
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