Collections Process/Procedures

From: Brian T. Kaspar (Brian.T.Kaspar@hofstra.edu)
Date: Mon May 12 2003 - 12:24:12 EDT

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    Here at Hofstra University, we are looking to find out how other colleges/universities handle collections.

    I am extremely interested in hearing about how your school has its Collections Department structured and the collections process itself.

    Some questions:
     1) How many staff make up your collections department?
       (How many clerical? How many administrative?)

    Does your collections staff perform any other activities other than collections? (At Hofstra, the Collections Office also processes federal Perkins and two institutional loan programs - this includes billing to all debtors as well as delinquencies)

     2) At what point do you begin the collection process? For example: when do you send collection notices? How long after the term/semester is completed do you designate an account as "in-arrears"?

     3) Do you send letters from your collections office first(in-house), before sending the account to a letter writing service or collection agency?

     4) Do you use a Letter Writing Service?
         Which one(s)?
               How long has your school used the service?
                   Are you satisfied with the job that they do for your school?

     5) How many Collection Agencies does your school use?
          Which ones?
               How long has your school used the agency(ies)?
                   Are you satisfies with the job that they do for your school?

          Do you forward tuition/housing arrears as second placements?
          Do you report tuition/housing arrears to credit bureaus?

     6) What is the process in regard to flagging your current system to identifies students that collection activity is in process? Do you write off the funds outstanding or do you maintain the debits in the A/R account on the General Ledger and in the subsidiary ledger?

    Any other additional information that you could share would be most appreciated.

    Thank you.
    Brian Kaspar

    **********************************************
    Brian T. Kaspar
    Associate Director of Student Accounts
    205D Memorial Hall
    126 Hofstra University
    Hempstead, New York 11549-1260
    Phone: (516)-463-6828
    Fax: (516)-463-4847
    E-Mail: Brian.T.Kaspar@Hofstra.Edu

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