AT THE RISK OF INVITING the ire of clients and friends, I think it’s fair to say that colleges and universities are the “chosen ones” of the federal grants world. They have more favorable rules compared to those in other areas.
THE WORLD’S FINANCIAL markets spent the latter part of 2008 in an unprecedented state of volatility. Pictures of frazzled and depressed traders became one of the worst clichés in the news because they seemed to run every day.
A USA TODAY HEADLINE states, “Tuition Hikes Will Ease.” The article opens, “The price tag for college tuition is continuing to climb this year, but experts are predicting less sticker shock than in the past two years.”
AS I WRITE THIS, OIL IS AT $135 A BARREL; gas pump prices have topped $4 almost everywhere. Some airlines are charging a $15 fee for the first checked bag-on top of a $25 fee for checking a second bag-to help offset fuel costs.
Vickie Fredrick is associate vice president for finance at Webster University in St. Louis. The university was looking to distribute refunds electronically but did not want to obtain and store student banking information itself, so it turned to Higher One. Ms. Frederick and her colleagues, Norm Senaldi and Mary Petersen, spoke about their experience..
Sue Gilpin is the Controller at Heartland Community College in Normal, Ill. The college has been using Higher One's OneDisburse refund management system for over a year and will soon expand its use because of the implementation of a new student loan program. Ms. Gilpin recently spoke with Streamlined about Heartland's experience with Higher One.
We have about 5,000 credit students who are here for their Associates Degree or taking vocational classes. We also have about 5,000 community education students who are just taking classes for enjoyment or personal enrichment.
The decision-makers at Troy University knew that issuing refunds electronically would make the process more efficient, especially for a university with 35,000 students studying at more than 60 campuses. But it also had an unexpected benefit.
Issuing refunds from financial aid and tuition overpayments to students used to be a time-consuming and labor-intensive affair at State College of Florida, Manatee-Sarasota (SCF), just as it is at many colleges and universities. Inefficiency was only part of the problem.
Richard Jacobs is director of student accounts at Flagler College in St. Augustine, Fla., which uses several of Higher One's payment management solutions. As a member of the Higher One Product Steering Committee, Mr. Jacobs has been influential in guiding the development of several of the company's products.