From: Barbara Drexinger (badrexin@kings.edu)
Date: Wed Jun 26 2002 - 14:31:36 EDT
> -----Original Message-----
> From: Financial Information Systems
> [mailto:sfs-bur@cms.mail.virginia.edu]
> Sent: Wednesday, June 26, 2002 12:37 PM
> To: bursar-l@virginia.edu
> Subject: Books charged to tuition accounts
>
>
>
>
> Date: Wed, 26 Jun 2002 12:06:26 -0400
> From: "E: Pollitz, Carol A" <capollitz@vfcc.edu>
> To: "'bursar-l@virginia.edu'" <bursar-l@virginia.edu>
> Subject: Books charged to tuition accounts
>
> Our Financial Aid Director has informed me that we are the only
> school (that
> she knows of) that does not allow students to charge their books to their
> tuition account.
>
> If you don't allow students to charge books to their account, also please
> respond why you do not allow books to be charged.
>
> If you did at one time allow it and then discontinued the process, please
> explain why you changed.
>
> For those schools who currently issue vouchers, what dollar limit do you
> use?
The dollar limit is dictated by the existing credit balance.
What is the turn around time for the bookstore to get the charges to
> you so that it can be put on the students account?
We have 2 scenarios for charging books:
1. For a student with an existing credit balance we "sell" them bookstore
checks, just like travelers checks, and charge their account the same
day.
2. For the student who does not have an existing credit balance, but is
receiving
a third party benefit for their books/supplis, such as a student on
Pennsylvania
vocational rehabilitation programs, we set the limit indicated on the
contract, and
issue a "charge card".
We do not allow students to charge books if they do not have a credit
balance. We contract for bookstore services, so it is not a college
department, and we have to pay the bookstore for charges as they occur. If
the student does not have a credit balance, we do not have funds to pay the
bookstore, and we do not want to start using college funds to do so.
Do you only issue a
> voucher if the student will have a credit balance?
We do try to adhere to the policy of only issuing bookstore checks or
charge cards
for students that have exisiting credit balances. However, as you know,
there are
always exceptions to the rule, and there are a few times we allow a student
to charge
books even though they do not have an existing credit balance.
What percentage of
> students that you advance funds for end of withdrawing from
> school?
Because of our conservative policy, this rarely happens, so I would have to
say less than
1%.
How do
> you collect the money if the financial aid package changes?
All bookstore charges are invoiced to the student's tuition account, and
included in
whatever balance remains from a financial aid adjustment.
Who takes
> responsibility for the collection of funds if the package changes?
The Business Office has the responsibility of collecting all tuition
account balances, regardless of how the balance came about.
How
> early in the semester to you advance the funds?
Most financial aid in on the initial semester bill, except for loans, which
start coming
through the week before classes begin.
>
> If you would be willing to share your process I would appreciate it.
>
> If I get enough responses, I'll post the responses to the list
> serve. Last
> August the same questions were posted and 95 responses were received. I
> hope to receive similar responses. Thanks for your help.
>
> Carol Pollitz, CPA
> Comptroller
> Valley Forge Christian College
> 1401 Charlestown Road
> Phoenixville, PA 19460
> 610-917-1420
> capollitz@vfcc.edu
>
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