From: coomes@ccmail.nevada.edu
Date: Wed Jan 29 2003 - 16:11:04 EST
Our financial aid office has stated that we MUST give parents the option.
I tried to bring look at it based on a disbursement policy, but they say
no way. We are a direct lending school and the direct lending web site
says that they can choose either. It is a completely manual process for
us also. When we first became a direct lending school, our financial aid
office was directed to push parents away from giving the excess funds to
them. They were to counsel the parents and the students and give them
alternative means. This worked very well and the numbers were so low that
I could process them within 24 to 48 hours. I had the parent's set up as
a student on the system and would manually apply funds to the student and
the parent. I was so speedy that our financial aid office decided to
change their paperwork without notifying us. Needless to say, the change
was noticeable. They were notified to change it back, but you know how
that goes. Anyway, now it is so bad that it is not possible to receive a
file of disbursements and disburse them within the government time frame.
So, for schools that are applying only after other aid is applied first,
how are they doing this with the disbursement time frames. Our students
have aid disbursed throughout the whole semester.
Sharon Coomes
Bursar
University of Nevada, Las Vegas
Nancy Ludwig <E40NAL1@wpo.cso.niu.edu>
01/29/03 11:49 AM
To: bursar-l@virginia.edu
cc:
Subject: RE: Refunds of PLUS Loan Proceeds
I did not see any responses to Sharon's question in regards to finding
where it states a written policy is required. Our policy (not written
anywhere) has been to apply all other aid first, regardless of the order
that it was disbursed. A refund to the parent is a very manual process
for us, as opposed to a refund directly to the student, which is a
highly automated process. We have been told by our financial aid office
that refunding the PLUS is the way it SHOULD be done. I would like to
see our current policy changed. I don't know if other institutions have
seen an increase in PLUS loans but we have, and given the current
economic situation I anticipate that this trend will continue. Any info
to support my case will be appreciated but, at the very least, I need to
know exactly what the regulations are.
I have only been on the list for a short time but have gained a wealth
of knowledge and insight. Thanks to you all.
Nancy Ludwig
Assistant Bursar Student Receivables
Northern Illinois University
(815) 753-9186
nludwig@niu.edu
>>> "by way of bursar-l <owner-bursar-l@Virginia.edu>"
<coomes@ccmail.nevada.edu> 01/10/03 12:36PM >>>
Our financial aid office says that we must give the option. I have
looked
on the web and do not see where this can be written. Can anyone tell
me
where it states we just have to have a written policy?
Sharon Coomes
Bursar
University of Nevada, Las Vegas
Gerard
Valiquette To: bursar-l@virginia.edu
<gval@uri.edu cc:
> Subject: RE: Refunds of
PLUS
Loan Proceeds
01/08/2003
12:09
PM
We don't give the parents/students the option. We have a policy to
apply
the parent loan first to the term bill regardless of when it's
applied.
Have not had any appreciable complaints and have utilized this system
for
several years.
-----Original Message-----
From: Doug Ackley [mailto:RDA@andy.lan.ksu.edu]
Sent: Wednesday, January 08, 2003 1:46 PM
To: bursar-l@virginia.edu
Subject: Re: Refunds of PLUS Loan Proceeds
Cheryl,
The management of PLUS loan refunds to Parents is very
cumbersome for us in the "Business Office". First of all, parents
have to designate if they want to proceeds to go to them or if the
proceeds can go to the student. If the proceeds go to the student,
then we apply all aid the same and write a check to the student for
any excess aid over the tuition/fees.
However, if the parents want the proceeds to go to them, then we
have a problem. Parents want all other aid applied to students'
accounts first and then PLUS loan so parent will get a larger
refund. Students complain when this happens because the refund
goes to parent and they don't have money for books, rent, etc.
AND WE ALL KNOW HOW LITTLE COMMUNICATION AND
COOPERATION THERE IS BETWEEN PARENTS AND
STUDENTS NOWDAYS!!
It is a very manual and awkward process to compute the refund
amounts and to whom they should go to.....and I won't even get
into the situations where the parents are divorced and each has
applied for a PLUS loan (ugly).
I have attempted to answer your questions below in CAPS. Please
share any valuable information you may receive outside the
listserv.....thanks.
Date sent: Wed, 08 Jan 2003 11:55:43 -0500
To: bursar-l@virginia.edu
From: Cheryl Goetz <Cheryl.Goetz@unh.edu>
Subject: Refunds of PLUS Loan Proceeds
> The Department of Education does not dictate how we should handle
refunds
> related to Parent PLUS Loans. They have told us that it is up to
the
> individual school how they handle these refunds, but that the
school
must
> have a written policy. We are looking at changing our current
policy
and
> would like to have some input as to how other schools handle
these.
>
> 1) Do you always offer PLUS Loan refunds directly to the parent,
or
directly
> to the student?
WE GIVE THE PARENT THE OPTION.
>
> 2) Do you require permission from the parent to disburse the
refund to
the
> student?
YES, PARENT MUST DESIGNATE.
>
> 3) Do you require the student's permission to disburse the refund
to
the
> parent?
NO....THE DECISION IS THE PARENT'S.
> 4) If the PLUS loan is not the only method of payment, what are
your
> guidelines to determine if the overpayment is from the PLUS Loan?
IF ALL AID IS FED ON THE SAME DAY, THEN PLUS
LOAN IS APPLIED LAST (STUDENTS WHINE LESS THAN
PARENTS). IF AID IS APPLIED ON SEPARATE DAYS, THEN
CHRONILOGICAL APPLICATION IS COMPUTED.
>
> Thank you.
>
> Cheryl Goetz
> Senior Accountant
> UNH Business Services
> 11 Garrison Avenue
> Durham, NH 03824
> (603) 862-0091
> Cheryl.Goetz@unh.edu
>
R. Douglas Ackley
Assistant Controller for Cashiering and Student Loans
211 Anderson Hall
Kansas State University
Manhattan, KS 66506
(785) 532-1820
email: rda@andy.lan.ksu.edu
FAX: (785) 532-5632
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