Your. Student s Account. Albright College. Sneak Peek - July Slide 1

Transcription

1 Your Student s Account Sneak Peek - July 2010 Slide 1

2 Student Accounts Location: Hours: Library/Administration Building (adjacent to the Controller s Office) 8:00 am 5:00 pm (Mon. Fri.) or by appointment Telephone: (610) (877) (toll free) studentaccounts@alb.edu Slide 2

3 Student Accounts What are we? Contact us about anything related to your monthly Statement of Account: Charges Credits Resolution of your account balance Meal plan changes Declining Balance Accounts (DBA) Credit card payments TMS Budget Plans Slide 3

4 Student Accounts Who are we? (continued) John Zitrick Student Account Manager Slide 4

5 Student Accounts Who are we? (continued) Michele Mahony Student Account Representative Slide 5

6 Student Accounts Who are we? (continued) Valerie White Customer Service Representative Slide 6

7 Student Accounts Who are we? (continued) Rick Melcher Associate V.P. and Controller Slide 7

8 Contact Limitations Please note that the student will be always be the first line of contact. The information contained in the student records, including the student account, belongs legally to your daughter or son. FERPA form (Waiver/Release of Information Request) collected by the Office of the Dean of Students IQWeb log-on Slide 8

9 FERPA Form Slide 9

10 FERPA Form Slide 10

11 Financial Responsibility Form Must be signed by your daughter or son and you. acknowledgement that the student and her/his parent(s) or guardian(s) fully understands their financial obligations. This form must be completed and returned to the College before the student will be permitted to attend the first day of classes. Can be dropped off today! Slide 11

12 Slide 12

13 Sample Statement of Account Slide 13

14 Charges Monthly Statement of Account Tuition and fees assessed on a semester basis. In subsequent months, various other charges will appear in the Charges section Slide 14

15 Monthly Statement of Account Credits Payments are posted when received Financial Aid will be posted as a credit when disbursed Slide 15

16 Monthly Statement of Account Anticipated Aid is reflected (in the initial billing of the Fall and Spring semesters) for financial aid that is pending disbursement Slide 16

17 Monthly Statement of Account Account balances reflected as Payment Due on all statements are payable by the Due Date. Slide 17

18 Monthly Statement of Account Messages Each month, messages are printed on the Statement of Account. These messages are important because they ensure that all students receive the same information each month. relate important dates for housing sign-up; and class registration. Slide 18

19 Resolving Your Account Balance (payments) Check, or money order. (Can be mailed to the College s lockbox in Baltimore, MD stated on the envelope provided). Credit Card (Discover, Master Card or Visa) in person at the Cashier s Window or at Student Accounts; or telephoned into Student Accounts. TMS 10-month budget payment plan through Tuition Management Systems Payments made July through April Slide 19

20 Resolving Your Account Balance (through borrowing) Federal Direct Plus loan (for parents) Plus Loan Data Sheet www. albright.edu/admission/freq-forms Private educational loans Slide 20

21 Resolving Your Account Balance CONTACT STUDENT ACCOUNTS! Communication is the key! Slide 21

22 Unsettled Account Balances Late payment fees are assessed when the balance (comprised of tuition, room and board, and miscellaneous charges) remains unpaid beyond the Due Date. Charging privileges may be suspended and other actions taken, as appropriate. To have charging privileges restored, the student must pay his/her outstanding account. Slide 22

23 Credit Balances In some cases, the total credits exceed the total charges. When this happens, the amount shown as due is preceded by a dash. Sample: Slide 23

24 Credit Balances may be left in place to offset future charges may request a refund, in whole or in part visit or call the Student Accounts Office refund checks are: issued in the student s name (except if the credit is created by a plus loan, the refund is issued in the parent s name unless authorized by the parent to do otherwise.) pickup or mailed to student s home address average 10 days for the check to be issued Slide 24

25 Credit Balance Refunds Clarifications: Participants in the TMS Budget Plan should contact Student Accounts to discuss the true balance status. Slide 25

26 Credit Balances Clarifications: Please note: credit balances associated with Anticipated Aid will not be refunded. Slide 26

27 Frequently Asked Questions Slide 27

28 Frequently Asked Questions Question: My Statement of Account reflects my financial aid as being anticipated. When will this aid be permanently posted to my account? Slide 28

29 Slide 29

30 Frequently Asked Questions Answer: Financial aid is permanently posted to a student s account only after all documents requested by the Financial Aid Office have been received, including: Signed Award Letter Direct Loan Master Promissory Note online at Other verification documents as applicable Slide 30

31 Frequently Asked Questions Question: Can I assume that the Stafford Loan or PLUS loan amount listed on my Award Letter from the Financial Aid Office is a guaranteed figure? Slide 31

32 Frequently Asked Questions Answer: No; the anticipated Stafford Loan or PLUS loan amount shown on the Award Letter are gross amounts (i.e. before fees). Loan origination fees are deducted when the funds are received. The net amount will ultimately be posted to the student account. Slide 32

33 Frequently Asked Questions Question: Can I assume that the Stafford Loan or PLUS loan amount listed as Anticipated Aid on my Statement is the amount that will be posted to my account? Slide 33

34 Slide 34

35 Frequently Asked Questions Answer: No, even though the anticipated Stafford Loan or PLUS loan amounts shown on the statement are estimated net amounts (i.e. after estimated fees),... the actual origination fees deducted may vary from our estimates. Slide 35

36 Frequently Asked Questions Question: Can I assume that the amount listed as PA State Grant on my Award Letter and as Anticipated Aid on my Statement is the amount that will be posted to my account? Slide 36

37 Frequently Asked Questions Answer: No; The awarded State Grant amount (eligible PA residents only) is an estimate, which was established prior to the PA state budget being passed. This estimate will probably differ from the actual amount that will be applied to your student account. under State Grant Programs. Slide 37

38 Frequently Asked Questions Question: When will the private scholarship that my daughter /son received show on the Statement of Account? Slide 38

39 Frequently Asked Questions Answer: In most cases, the College does not have advance knowledge of private scholarships. These payments are posted as they are received. The student/family should contact the organization granting the scholarship. Slide 39

40 Frequently Asked Questions Question: Federal Work Study (FWS) of $1,000 was awarded as part of the financial aid package; when is this amount credited to her/his account? Slide 40

41 Frequently Asked Questions Answer: Caution FWS is not applied to the student account as a reduction of tuition and fees; it is simply an agreement to provide an on-campus job opportunity to assist the student with other post education costs. The student must apply for a position (Human Resources; first come first served basis). Any wages earned are paid directly to the student. Slide 41

42 Frequently Asked Questions Question: Where will I be able to purchase my books? Answer: the College Bookstore is located in the Campus Center. Slide 42

43 Frequently Asked Questions Question: What payment options does the Bookstore offer? Answer: Cash, check, money order or credit card; or DBA (Declining Balance Account) new! Charge via the student ID to the student s account. Slide 43

44 Frequently Asked Questions Question: What is a DBA (Declining Balance Account )? Slide 44

45 Frequently Asked Questions Answer: prepaid account similar to a debit card or check card alternative method of payment in lieu of cash the available funds are encoded on the student s Albright identification card Balance status can be viewed at any Dining location, on the ValuePort Machine or in the Student Accounts office. Slide 45

46 Frequently Asked Questions Question: What can DBA be used for? Answer: Bookstore purchases- new! Ala carte meals/snacks at all dining locations Pepsi vending machines Copying / printing (Library, Copy Center) Slide 46

47 Frequently Asked Questions How do I open, or add to an existing, DBA Student Accounts Office Fund with cash, check or credit card in the amount of $10 or more in increments of $5 ValuePort machine (Campus Center) Paper money only ($1s, $5s $10s and $20s); no coins. Note, the ValuePort does not give change. Can be done today at the Information Mall! Slide 47

48 Frequently Asked Questions How much should be put into a DBA? We encourage a deposit of at least $50 at the beginning of the semester to avoid frequent trips for additional deposits. Slide 48

49 Frequently Asked Questions Question: How does charging work? Answer: The student can present his or her student ID at the register to have a charge assessed to the student s account. Slide 49

50 Frequently Asked Questions Question: Where can my student charge, and how will it appear on the Statement of Account? Slide 50

51 Frequently Asked Questions Answer: Bookstore single line item charge for all bookstore purchases made over the preceding week posted to the account weekly charge purchases can be limited by request to textbooks and classroom supplies or altogether Slide 51

52 Frequently Asked Questions Answer: Ala carte dining charges from Jake s Place, Jake s Java and Peg s Cafe single line item charge for all purchases made over a preceding two-week period. posting date may not be actual purchase date. Slide 52

53 Frequently Asked Questions Question: What other charges may be placed on my account? Slide 53

54 Frequently Asked Questions Answer: (continued) Health Center Services Class Trip Fees Student Organization fundraisers Fines and Penalties single line item charge for all services rendered over the previous month. posting date will probably not be actual date of service. Slide 54

55 Frequently Asked Questions Question: How can I participate in the effective management of my daughter s or son s spending in regard to miscellaneous charges? Slide 55

56 Frequently Asked Questions Answer: Funding a DBA account and requesting the charging privileges to be restricted in the Bookstore and ala carte dining locations, effectively limits purchases to the amount available in DBA. This will help avoid surprise charges from appearing on the statement while still providing your son or daughter some latitude in their discretionary spending. Slide 56

57 Frequently Asked Questions Question: Can I change the meal plan that I was required to select prior to my arrival? Slide 57

58 Frequently Asked Questions Answer: Yes; but all resident students must participate Freshman - Gold (20) or Silver (14) Limited time: only once, during the first ten days of classes at start of academic year Visit Student Accounts Office no later than September 10, 2010! Students should be aware of the Grab and Go option. (counts as a meal for the week) Slide 58

59 Frequently Asked Questions Question: Is there an ATM machine on campus? Answer: No, but there are many ATM machines within walking distance. Two bank ATMs (VIST Financial and Wachovia) are directly across the street from campus. ATM machines on the premises of Giant Foods, CVS, and WAWA. Slide 59

60 Student Accounts Location: Hours: Library/Administration Building 8:00 am 5:00 pm (Mon. Fri.) or by appointment Telephone: (610) (877) (toll free) Slide 60