From: by way of Lynn Davis
Date: Thu Aug 30 2001 - 12:10:44 EDT
Hi Barbara,
The Federal Government demands a 'separation of duties'. The person
awarding/certificating the loan cannot be the person disbursing the funds.
These two people can sit next to each other in the same office as long as
there is this separation of duties. Therefore, both awarding and disbursing
can be performed within the Office of Financial Aid.
Thanks, Peggy
Margaret M. Walsh
Director of Student Financial Services
Bentley College
(781) 891-2964
(781) 891-3159 (Fax)
mwalsh@bentley.edu
Good morning,
I would appreciate responses to the following question. There seems to be
some discrepancy at our University regarding the posting of loan
disbursements to the students' accounts. Our financial aid director
indicates that federal regs prohibit financial aid from disbursing loans,
and our business office has been posting loans for the past several years.
However, I have heard from other schools that they indeed post the loan
payments.
Thanking you in advance,
Barbara Ralls, Student Accounts Supervisor
Newman University
3100 McCormick Avenue
Wichita, KS 67213
(316) 942-4291, ext. 361
rallsb@newmanu.edu
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