Bursar’s Roundtable Bursar’s Roundtable Session 1Session 1 125% Rule125% Rule Bank LockboxBank Lockbox Departmental DepositsDepartmental Deposits Decentralized InvoicingDecentralized Invoicing Returned ChecksReturned Checks
Bursar’s Roundtable Bursar’s Roundtable Session 1Session 1 125% Rule – Effective July 1, 2006125% Rule – Effective July 1, 2006
– In-state students who exceed by In-state students who exceed by 25% the required hours for their 25% the required hours for their degree, will be assessed a Surcharge degree, will be assessed a Surcharge (determined by SCHEV).(determined by SCHEV).
– Surcharge can be waived for certain Surcharge can be waived for certain situations and certain courses and situations and certain courses and credit hours are excludedcredit hours are excluded
– Stay tuned for details…..Stay tuned for details…..
Bursar’s Roundtable Bursar’s Roundtable Session 1Session 1 125% Rule – Effective July 1, 2006125% Rule – Effective July 1, 2006
– Registrar must track, Student Accounts Registrar must track, Student Accounts must bill, Fin Aid must monitor for state must bill, Fin Aid must monitor for state grants, scholarship ineligibilitygrants, scholarship ineligibility
– Enacted into law because of increasing Enacted into law because of increasing enrollment and need for classroom seatsenrollment and need for classroom seats
– Unsure if currently enrolled students are Unsure if currently enrolled students are “grandfathered” or if students initially “grandfathered” or if students initially enrolling for fall 2004 and afterward are enrolling for fall 2004 and afterward are included in calculations. included in calculations.
Bursar’s Roundtable Bursar’s Roundtable Session 1Session 1 Bank LockboxBank Lockbox
– On-line banking, collections, On-line banking, collections, scholarshipsscholarships
Departmental DepositsDepartmental Deposits– Responsibility of your office?Responsibility of your office?
Decentralized InvoicingDecentralized Invoicing– How to standardizeHow to standardize
Returned CheckReturned Check
Bursar’s Roundtable Bursar’s Roundtable Session 2Session 2
Electronic Billing and Electronic Billing and PaymentsPayments
What issues do you have with your current billing system?What issues do you have with your current billing system?
Are you thinking about changing to electronic billing?Are you thinking about changing to electronic billing?
Do you have support from senior management to change or Do you have support from senior management to change or to investigate?to investigate?
Does the JMU contract with InfiNET provide what you Does the JMU contract with InfiNET provide what you need to proceed or do you want to issue your own need to proceed or do you want to issue your own RFP?RFP?
What do you need to know about electronic billing What do you need to know about electronic billing and payment?and payment?
What do you need to know from schools who What do you need to know from schools who have already implemented electronic billing have already implemented electronic billing and payments?and payments?
Thinking about electronic billing and payments?
a comprehensive billa comprehensive bill
student account charges include student account charges include tuition and fees, room, internet tuition and fees, room, internet connection fee, meal plan, UDAP and connection fee, meal plan, UDAP and housing contracts fees, fines for housing contracts fees, fines for library, judicial, housing, athletic and library, judicial, housing, athletic and parking, and residence hall long parking, and residence hall long distance charges.distance charges.
initial semester bill and then monthly initial semester bill and then monthly bills for new charges or past due bills for new charges or past due balancesbalances
the billing issuesthe billing issues
ACH
Holds
Refunds
CashFinancial Aid
Fees, Fines
Credit cards
ChecksStudent bills
1. increasing costs 2. postal delays 3. poor means of
communication4. on-line banking
payments to lockbox
5. FERPA and customer service
background – July to background – July to December 2004December 2004
research on available technology research on available technology e-billing committee established to e-billing committee established to
investigate optionsinvestigate options request for proposals from vendors was request for proposals from vendors was
issued on August 20, 2004issued on August 20, 2004 proposals received and four vendors invited proposals received and four vendors invited
to campus to present their product – to campus to present their product – narrowed to twonarrowed to two
site Visits to DePaul University and site Visits to DePaul University and University of Pittsburgh University of Pittsburgh
selling the changeselling the change
needed senior management needed senior management support and confidencesupport and confidence
JMU was first in Virginia JMU was first in Virginia getting Parents Council getting Parents Council
and Finance Committee and Finance Committee
of Board of Visitors stampof Board of Visitors stamp
of approval of approval
what happened when what happened when InfiNET met Duke DogInfiNET met Duke Dog
how e-bill how e-bill works at JMUworks at JMU
student account charges are sent to InfiNET student account charges are sent to InfiNET to post at a web site to post at a web site
within 24 hours of receipt of JMU file, within 24 hours of receipt of JMU file, InfiNET emails student and any authorized InfiNET emails student and any authorized payer that charges are available to viewpayer that charges are available to view
student accounts can be updated as often student accounts can be updated as often as JMU sends file to InfiNETas JMU sends file to InfiNET
InfiNET stores up to one year of student InfiNET stores up to one year of student account bills for referenceaccount bills for reference
e-bill e-bill presentment at JMUpresentment at JMU
student accesses through eCampus student accesses through eCampus (electronic) account(electronic) account
only student can control the account only student can control the account access for parents or other authorized access for parents or other authorized payerspayers
bill can easily be retrieved and printedbill can easily be retrieved and printed student and authorized payers receive student and authorized payers receive
email notification of billsemail notification of bills
electronic payment electronic payment gatewaygateway
payment by credit card, using MasterCard, payment by credit card, using MasterCard, American Express or Discover, is offered American Express or Discover, is offered with a 2.75% vendor service feewith a 2.75% vendor service fee
electronic check payment is a new payment electronic check payment is a new payment option at no cost to payeroption at no cost to payer
third parties can make payment to student third parties can make payment to student without access to the student’s bill – just without access to the student’s bill – just need the student’s JMU ID#need the student’s JMU ID#
benefits to our benefits to our students and students and
parents/payersparents/payers immediate access to student account immediate access to student account
charges – no more waiting for a bill to charges – no more waiting for a bill to arrive in the mailarrive in the mail
student account information available student account information available 24/7 - previous months as well as 24/7 - previous months as well as current chargescurrent charges
accessible to parents as well as other accessible to parents as well as other authorized payers – especially authorized payers – especially valuable to divorced parentsvaluable to divorced parents
benefits to our benefits to our students and students and
parents/payersparents/payers once parent is set up as an once parent is set up as an
“authorized payer” UBO staff can “authorized payer” UBO staff can openly discuss the account chargesopenly discuss the account charges
student or parent can make electronic student or parent can make electronic payment by credit card or check for payment by credit card or check for immediate account resolutionimmediate account resolution
benefits to JMUbenefits to JMU
eliminates processing and handling of paper eliminates processing and handling of paper bills bills
eliminates postal delays -especially eliminates postal delays -especially important to international students important to international students
provides another communication portal with provides another communication portal with students and payers – easily customized students and payers – easily customized messages on JMU web payment pages or messages on JMU web payment pages or message line on InfiNET sitemessage line on InfiNET site
InfiNET site is easy to maneuver for UBO InfiNET site is easy to maneuver for UBO staff to verify payments, check authorized staff to verify payments, check authorized payers, print off bills, etc.payers, print off bills, etc.
benefits to everyonebenefits to everyone
enhances compliance with FERPA and enhances compliance with FERPA and GLBGLB– student bill information readily available for student bill information readily available for
parent through access granted by student parent through access granted by student instead of UBO staff but allows UBO staff to instead of UBO staff but allows UBO staff to discuss financial matters with “authorized payer”discuss financial matters with “authorized payer”
– InfiNET has undergone the most rigorous InfiNET has undergone the most rigorous validation program by the credit card industry to validation program by the credit card industry to achieve the highest compliance certification achieve the highest compliance certification awarded awarded
the resultsthe results
out of 17,000+ bills processed, only 160 out of 17,000+ bills processed, only 160 paper bills are being mailed outpaper bills are being mailed out
receivables this year are ahead of this time receivables this year are ahead of this time last yearlast year
““emergency” check payments can be made emergency” check payments can be made on-line with a “free” e-check instead of having on-line with a “free” e-check instead of having to pay for an overnight delivery serviceto pay for an overnight delivery service
many emails, phone calls, comments from many emails, phone calls, comments from happy parentshappy parents
changes forchanges fornext yearnext year
upgrade to “real time” charge and upgrade to “real time” charge and payment informationpayment information
further restrict paper bill requests further restrict paper bill requests to disabilities and no computer to disabilities and no computer accessaccess
change the name “QuikPAY” to change the name “QuikPAY” to “QuikBILL”“QuikBILL”
your questions?your questions?
