RE: Room Deposits

From: Savage, Glenn E (savageg@exchange.winthrop.edu)
Date: Mon May 20 2002 - 15:11:58 EDT

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    At Winthrop University, we do not collect "deposits" on residence hall
    rooms. We do require a $100 room prepayment to secure a place, but the
    prepayment is applied against their balance due.

    Glenn Savage, CPA
    Assistant Controller
    Winthrop University
    Phone: 803-323-2165
    FAX: 803-323-2286
    e-mail: savageg@winthrop.edu
     

    -----Original Message-----
    From: Marjorie Sederberg [mailto:msederberg@mma.mass.edu]
    Sent: Monday, May 20, 2002 12:25 PM
    To: bursar-l@virginia.edu
    Subject: Room Deposits

    Good Afternoon!

    I was hoping to get some information regarding room deposits from those
    of
    you who have implemented such a deposit procedure. We do not currently
    collect room deposits. I need to know how other schools handle this.
    Our
    main purpose of the room deposit would be to charge dorm damage to this
    deposit to reduce the cost of collecting small invoices. Also, is there
    any
    law that requires the school to pay interest on the deposit to the
    student?

    Any input on the subject would be greatly appreciated.

    Thank you in advance for your assistance.

    Marjorie Sederberg
    Massachusetts Maritime Academy
    Student Accounts
    (508)830-5085 Phone
    (508) 830-6440 Fax

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