Feature

Until recently, many 403(b) employee retirement plans were viewed not as actual plans but as clusters of individual employee contracts with different vendors. Higher ed institutions were like middle men, with their role limited to passing through employee contributions to individual plans. Administrators saw little need to pay much attention to their 403(b) plans or to exercise much oversight of third-party mutual funds or insurance companies managing employee funds.

Student borrowing is going up. National Student Loan Data System data shows that cumulative borrowing per student participating in federal loan programs increased from about $3,943 in 1990 to $11,510 in 2000 and $13,856 in 2009. Much of the increase is attributed to funding for graduate education, and recent changes in federal student loan policies for graduate students will likely cause this to go higher.

There are two things Muhlenberg College (Pa.) president Randy Helm makes sure to do when he writes his annual tuition letter to parents, and both are in the first paragraph. First, he thanks parents for sending their children to the college; second, he details the following year’s tuition and fees and notes the percentage increase over the current year.

In light of the current economic conditions and the decreased value of most endowments, many organizations are re-examining their investment strategies. Often overlooked: Spending policies must have not just the proper annual spending amount but also be adequately defined. 

Given the pervasive use of mobile devices, could handheld technology replace campus card programs altogether? After all, aiming a device at a residence hall keypad, or paying for vending snacks by waving a cell phone at the machine, are already possible, as is automated check-in at events, purchases at tech-savvy retailers, and connection to banking services.

With all that functionality, it just makes sense to consider a switch, believes Laura Ploughe, director of business applications and fiscal control in the university business services department at Arizona State University.

Campus cards have come a long way since their initial uses related to door access and meal plan tracking. Increasingly, colleges and universities are turning campus cards into function-packed systems, with subsequent benefits related to efficiency, revenue generation, and off-campus partnerships. Here are 10 best practices for getting the most out of your campus card program.