Re: bursar-l: Posting Title iV aid and refunds

Lee,

At Monroe Community College, we do not disburse until roughly the 6th
week of the semester...after the Drop for Non-attendance process is
done. If a student is reported as a no-show, the class is dropped and
tuition and fees removed. Then, FA pays based on the hours that the
student is actually attending. We began doing this back in 1996. It was
tough at first but the community is aware of it now and we rarely get
serious complaints. We do offer a line of credit at our bookstore for
students who have been packaged with enough estimated aid to cover
tuition and fees with some left over. That takes a lot of the heat off,
as well. Finally, we do have an emergency cash loan program for students
in dire straits. Documentation is required and the amount rarely exceeds
a couple hundred dollars. We only have a handful of those per term.

For Fall 2007, we just paid aid last Friday and we will be issuing
roughly 4,000 refund checks tomorrow.

Faculty report attendance on Banner Faculty Self-Service. We are using a
page designed for reporting midterm grades which we customized
(visually) using Web Tailor.

Hope this helps.

Loretta

Loretta Chrzan-Williams
Director, Student Accounts
Monroe Community College
1000 East Henrietta Road
Rochester, New York 14623
585-292-2288
  

-----Original Message-----
From: bursar-l-bounces@list.mail.virginia.edu
[mailto:bursar-l-bounces@list.mail.virginia.edu] On Behalf Of Lee
Blanton
Sent: Wednesday, October 17, 2007 2:11 PM
To: bursar-l@list.mail.virginia.edu
Subject: bursar-l: Posting Title iV aid and refunds

Our institution is considering changing our current process of posting
aid and refunding. Currently we post aid during the 3rd week of the
term and generate the first group of refund checks at the end of that
week. We are a small state university with around 3800 students.
 
We wait until the 3rd week because our Financial Aid Office wants to
make sure all of our aid recipients begin attending in all of their
classes prior to releasing federal funds to a student. The Registrar's
Office receives attendance rosters from Faculty, identifying which
students are not attending class (no show) during the first 2 weeks of
the term. From that listing the Financial Aid Office will adjust/remove
aid from a students account based on the number of hours they are
reported as attending. The attendance reports are not always accurate
and not all Faculty turn in their rosters which causes problems. We are
NOT an Institution that is required to take attendance for financial
aid.

We're considering changing procedures and not collecting attendance
rosters upfront. An assumption would be made that if you have enrolled
then you are attending class for that term. Understanding that when
grades are turned in at the end of the term, there may be some students
that will need to have their accounts adjusted if they did not meet the
eligibility guidelines for federal aid.

It seems that schools refund aid at different points in the term.
* At what point does your institution actually post federal aid?
* When do you start processing student refund checks for a term?
* What are your reasons for choosing the process you follow?

Any insight will be very helpful. Thanks.

Lee Blanton
Bursar
Shawnee State University
Portsmouth, OH 45662
740-351-3669
740-351-3123 (fax)
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Received on Thu Oct 18 14:25:34 2007