Re: bursar-l: Credit Card refunds???[Scanned]

Sometimes this is addressed in your merchant services agreement with
your credit card processor. At Chatham we just recently changed our
policy to refund the credit card in the event of a credit balance, if
the student originally paid with credit card.

*******************************************************************

Kenneth C. Bush

Director, Student Accounts

Chatham University

Woodland Road | Pittsburgh, PA 15232
v 412.365.1510 | f 412.365.1643

kbush@chatham.edu

<http://www.chatham.edu/index.cfm>

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From: bursar-l-bounces@list.mail.virginia.edu
[mailto:bursar-l-bounces@list.mail.virginia.edu] On Behalf Of Gonzalez,
Hector
Sent: Friday, September 21, 2007 12:13 PM
To: bursar-l@list.mail.virginia.edu
Subject: bursar-l: Credit Card refunds???[Scanned]

Hello:

Does anyone know if there is a regulation governing refunds? Check or
credit card refund?

My question can better be served by an example; let say student pays off
account by credit card but then aid or loans are posted or even a
personal check is posted to the account creating an overpayment. Is
there a mandatory order of operation governing whether we refund credit
card back first or draw a check? Or is refund priority at the schools
discretion?

At my previous employer I was given the impression that there was a FTC
regulation mandating credit card first as a means of keeping consumers
out of debt (as much as that is possible).

Hector Luis Gonzalez

Associate Director

Office of Student Accounts

Teachers College, Columbia University

525 West 120th Street

Box 305

New York, NY 10027

Telephone: (212) 678-8414

Facsimile: (212) 678-4139

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Received on Mon Sep 24 11:41:58 2007