Cutting Costs and Improving Customer Service

Transcription

1 About the Payment Plan Promoting the Payment Plan Payer Options Enroll in a Payment Plan View Enrollments Supporting You and Your Payers Next Steps Illinois Community College Chief Financial Officer s Fall 2013 Meeting, October 16 through 18 Cutting Costs and Improving Customer Service

2 Thank You for a Great Year!! The Numbers! 34 Colleges using Actively Managed Payment Plan 5 Schools using Pending Aid Plan Rock Valley New Serving over 58,000 Students this fall Protecting over $72 Million in Student Receivables Lets review your data integration requirements Brand New STUDENT CHOICE REFUNDS! Ask us about our Three Pack!

3 NBS Payment Plan Participation 14-Oct NCES Data Students Using AMPP Students Choosing ACH Students Choosing Credit/Debit 30 Day + Total Agmts In Dollars Carl Sandburg * 2, $387,784 Kankakee 4, ,296 John A. Logan 7, ,372 Pending Aid (new) 1, ,366,808 John Wood * 2, ,435 Kennedy King 6, ,813 Malcolm X 7, ,299 Olive-Harvey 4, ,333 Harold Washington 9,013 2, , ,769,383 Truman 12,702 1, , ,801,112 Richard J Daley 8,250 1, ,097,683 Wilbur Wright 12,673 2, , ,689,314 Rend Lake 4, ,410 Richland 3, ,764 Triton * 14,403 1,909 1, ,515,871 Shawnee 2, ,505 Danville * 4, ,940 Heartland * 5, ,056,042 Illinois Valley 4, ,646 Spoon River * 1, ,451

4 14-Oct NCES Data Students Using AMPP Students Choosing ACH Students Choosing Credit/Debit 30 Day + Total Agmts In Dollars Rock Valley * 8,628 1,306 1, ,274,129 Pending Aid ,139 Prairie State 5,697 1, ,560,961 Parkland 9,368 1, ,560,734 Morton 5, ,428 Joliet 15,322 4,055 1,944 2, ,591,197 McHenry 7,104 1, ,481,398 College of DuPage 26,209 6,527 1,995 4, ,649,311 Pending Aid 7,887 2,113 5, ,369,208 Southeastern Illinois 2, ,630 South Suburban 7, ,014,430 Lake County 17,389 4,293 1,715 2, ,347,303 Pending Aid ,442 Lincoln Land 7,337 1, ,716,645 Harper 16,007 5,011 1,749 3, ,813,216 Pending Aid 3,583 1,220 2, ,792,925 Kishwaukee 5, ,023 Lake Land 8, ,047 Kaskaskia 5, ,349 Totals 261,333 58,487 23,200 35, $72,003,776 * Service fee 39.67% 60.33% <1% AMPP 34 Schools 45,399 19,149 26,250 Pending Aid 5 Schools 13,088 4,051 9,037

5 Nelnet Update New Student Choice Refund Suite New 24 X 7 Customer Service Team! New New Deposit Schedule 5 Days! Campus Guard PCI Compliance Management Dynamic Forms Secure Electronic Data Capture New Payment Plan Platform is just around the Corner!!

6 Improve Efficiencies to Cut Costs Align Policies Processes Communications Technology

7 Actively Managed Payment Plan Enhance Student Success! Put Students First Improve Access & Affordability Spread payments out Multiple plan options Pending Aid Program Convenience 24X 7 Real Time Link from SIS Toll Free Help and Payer Support Low cost to students

8 Payment Plan Options Prescheduled, automatic, recurring payments as school chooses! One sign up per semester/term - Electronic authorization vs. Electronic signature Payments are processed via - ACH Bank Draft or - Credit/Debit Card NEW VISA SERVICE FEE PROGRAM Nelnet Connect Interfaces to your SIS for real time account information and adjustments Nelnet maintains contact with payers throughout term Monthly reminder notice Missed payments Change of Payment or amount due or date changes

9 Flexible Plan Design Any number of payments Begin and end at any time No Interest, No Qualifying, No Credit Check, No Minimum Web enrollment - Authenticated Multiple student payment options under one system Program focused options Pending Aid Option for students using Financial Aid

10 NBS Support Your Institution Meeting your Expectations Questions referred back to you or your campus portal Questions about their financial aid balance Questions about school fees and charges Questions about dropping or adding a class General Discussion Is the payer allowed to change their balance? Is the payer allowed to change their pay date? Is the payer allowed to terminate their agreement? We customize our screens to ensure we support your payers as you wish.

11 Supporting Your Institution Typical Payment Plan Calls Supported by NBS How do I enroll for a payment plan and where is the web site located? What are my payment options? General questions on their payment plan Questions on missed payments and fees

12 Who Supports Your NBS Payment Plan? Ongoing Support o Assistant Account Managers (Payer phone support) o Assist payers with setting up an agreement o Support payer phone calls with questions on their payment plans o Research banking problems and problem agreements o Account Managers (Staff phone support) o Assist the institution with account management o Answer questions and provide training o MyPaymentPlan.com resource o Manage payment plan agreements o Manage the marketing material process

13 Cut costs with Convenience Fee What is the idea of a Convenience Fee? What is the Visa Service Fee? How can it be used? Service Fee, Convenience Fee, Surcharge Do I need to use a Third Party Processor? How do you get set up? How do you compare the types of fees?

14 Convenience Fee Service Fee Surcharge Eligible MCCs All Select Government and Higher Ed MCCs All Fee Amount Type Fixed Fixed or Variable Fixed or Variable Eligible Products Credit and Debit Credit and Debit Credit Channels Convenience (non face-toface) and outside merchant s customary payment channels All channels where payments are accepted All Other Forms of Tender (Amount) Same for all forms of payment Can vary by form of payment and brand Credit only--see settlement agreement requirements # of Transactions One payment and convenience fee Two payment and service fee One - surcharge amount shown on the receipt Merchant of Record Merchant Merchant for payment and/or service fee; Processor only for service fee Merchant Recurring Transactions Not eligible All transactions eligible All credit transactions eligible Registration Required No Yes Yes Special Notes of Interest Disclosed prior to the completion of the transaction and as a charge for the alternative payment channel convenience Acquirer handles merchant registration Disclosed prior to completion of transaction Prohibited in eleven states Cannot exceed cost of acceptance for the credit card; capped at 4% Disclosed prior to completion of the transaction

15 Other NBS Services 1. Actively Managed Payment Plans FACTS Pending Aid Option 2. epayment Gateway Convenience Fee Option 3. ebill Presentation Current Account Activity Option 4. Student Choice Refunds ACH, Paper Check and Student Choice Debit Card 5. ecommerce Dynamic Forms Option (NEW!!) 6. Cashiering with Centralized Reporting Check Conversion to ACH

16 Questions For NBS? Thank you!!