From: Sherry_Downs@vpf.finance.ohiou.edu
Date: Mon Jul 29 2002 - 08:48:52 EDT
Ohio University provides the Ohio College Advantage (or OTTA) program with
our quarterly tuition rates and due dates. The process we have in place is
fairly simple.
The student/parent must submit a payment request form to College Advantage
which indicates the amount to transmit to Ohio University. College
Advantage confirms the dollar amount. If the funds are available, College
Advantage sends the payment to Ohio University via EFT. They also fax us a
roster that agrees (hopefully) to the amount transferred. When the funds
hit our bank account, we post the payments to the student accounts. (We
are working on converting the fax roster to an electronic file that will
automatically post the payments.)
If the student/parent is worried that we won't receive the funds before our
payment deadline, we instruct them to fax a copy of the payment request
form to us. We will then exempt the student from the late fee (provided
the payment is for the full amount due).
Hope this helps.
Sherry Downs
Bursar
Ohio University
"Bailey, Karen"
<ksbailey@ku.edu> To: bursar-l@virginia.edu
cc:
07/29/02 08:15 AM Subject: 529 plans and sponsorships
Bursar world -
I'd appreciate it if you could take a few minutes to answer these questions
regarding pre-paid tuition plans. Our office is starting to receive a
number of requests to sponsor (third party contracts) students that belong
to the state offered tuition plans that are being offered. These are
pre-paid 529 plans. Most of these plans have very complicated calculations
that must be performed (by our office) to determine how much we are
supposed
to bill. Up to this point the plans that we have talked to have been
unwilling to meet our deadlines and are insisting that we sponsor these
students and send them a bill. "We are the only school that doesn't want
to
do this!" So...in order to find out if we are the "only" school, these are
the questions.
1) How is your institution handling these requests?
2) Do you have guidelines as to what your office will do or do you just do
whatever is requested?
3) Since it's a pre-paid plan, do you ever make the student/parent
responsible for making sure that it is paid on time?
4) Any additional advice you might have to share.
Thanks in advance for your assistance,
Karen Bailey
Bursar
University of Kansas
785-864-5929
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