Re: Recipient of credit balances

From: coomes@ccmail.nevada.edu
Date: Thu May 08 2003 - 09:14:28 EDT

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    We are looking at assuming that the plus loan came in first eventhough it
    may not have been processed that way. With this procedure, we would not
    have as many to send to parents. Currently we take their tuition and fees
    cost, subtract the student's financial aid that has arrived, pay off the
    remaining balance if there is one with the plus loans and only send to the
    parent where the parent has requested the refund. Our parents sign a form
    stating they are aware this could take up to 45 days processing time.
     
     
     
     
     
     

    Sharon A. Coomes
    Bursar
    University of Nevada, Las Vegas

     
     
     
     

    Herb Albertson <albertsh@enc.edu>
    05/07/03 01:09 PM

     
            To: bursar-l@virginia.edu
            cc:
            Subject: Re: Recipient of credit balances

    I am a rather new Bursar and the policies here (also a private school) are
    not
    set in stone as I would like. I am learning a lot from this listserv.
    Thanks
    to everyone for all the question and answers we get to view.

    I have similar questions about this. Do the Buckley agreements affect
    this
    related to the PLUS loans?

    No policy decisions have come about on this but several calls to parents
    have
    been made by our office, when the refund was large.

    We have also asked the student, when their account has only been covered
    by
    loans, "Was this refund was taken into consideration when they signed up
    for
    the loans?"

    This is definitely no solution, but if someone has a policy on this it
    would be
    good to know. 

    --
Herb Albertson, Bursar
Eastern Nazarene College
23 East Elm Ave
Quincy, MA  02170
(617) 745-3809
(617) 745-3992 (Fax)

    Sue Spies wrote:

     > We are reviewing our policies for refunding credit balances.  We are a
 > private university with fairly high costs.  Credit balances usually 
arise
 > from a combination of student loans, pay plans, PLUS loans, cash.
 >
 > What are similar schools doing regarding who gets credit balances?  For
 > example, should a student get the funds if the credit is a result of a 
PLUS
 > loan or a combination of a PLUS loan and Stafford loan? Would anyone be
 > willing to share your policy?
 >
 > Thanks
 > Sue
 >
 > Susan Spies
 > Bursar
 > University of Hartford
 > <mailto:spies@hartford.edu>spies@hartford.edu
 > (860)768-5206
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