BURSAR’S DIVISION
STUDENT ACCOUNTS DEPARTMENT
The Student Accounts Department disburses loans, grants and scholarship payments to students and accounts for related balances and expenses. The department also collects promissory note payments from students, provides entrance and exit counseling to borrowers, administers and collects student emergency loan funds, and authorizes deferments of student account charges. The department provides loan collection and servicing on federal Perkins Loans and University loan funds. Each year the department prepares and distributes 1098-E (Student Loan Interest) statements to borrowers.
Summary of Major Accomplishments
Direct Deposit of Financial Aid Funds
During FY 2005 staff members from the Student Accounts Department investigated the feasibility of contracting with an outside firm to assist the University in converting student financial services to an electronic environment. Departmental analysis led to the selection of TouchNet Information Systems, Incorporated to provide a solution that would meet the University’s needs. Implementation of the new system began prior to the end of the fiscal year. The new system will facilitate Web-based financial transactions and will significantly improve the financial services provided to students.
Student Loan Collection
In FY 2005 the department contracted with three new collection agencies to assist in the collection of overdue student loan payments. These agencies provide online services which assist the department in gathering information and administrating delinquent accounts. Collection rates have improved with the addition of these agencies. Implementation of Perkins Master Promissory Note
The department implemented the Federal Perkins Loan Master Promissory Note program during FY 2005. The new program allows a master loan agreement to be in effect for the entire period of the loan instead of requiring new agreements for each year. The new program should save a significant amount of processing time by eliminating subsequent loan year processing. Such processing includes efforts necessary to produce loan forms, mail the forms to students, retrieve the completed forms, input the data, and correct input errors.
On-line Credit Bureau Disputes (E-OSCAR)
In FY 2005, the Department began processing credit disputes through a vendor provided Web-based product known as Online Solutions for Complete and Accurate Reporting (E-OSCAR). Equifax, Experian, Innovis, and Trans Union jointly developed this product to provide an online, real-time solution for processing credit dispute verifications (ACDV’s) and automated universal data forms (AUD’s). The new system increased the efficiency and timeliness of processing ACDV’s and AUD’s and decreased the volume of calls from borrowers since the staff now handles disputes more quickly.
Upgraded software for Loan Collections
Loan servicing staff implemented SCT Campus Loan Manager in FY 2004 and an upgrade to this program in FY 2005. The conversion to the new system resulted in many issues and problems which the staff must work out with the software vendor. Once the staff resolves all of the implementation challenges, the new system should enhance the efficiency of the loan collection process.
Accel Program
The Georgia Student Finance Commission (GSFC) administers the Accel Program which allows Georgia high school juniors and seniors to obtain postsecondary credit at approved colleges and technical colleges while still in high school. Now students may complete an application online through the GSFC website and the student’s school administrators can monitor their progress and adjust their records electronically. The GSFC now transmits funds electronically to the University based on the accepted Accel disbursements. This process results in a quicker turnaround time for the University to receive the funds. Electronic Signature for Federal Direct Loan Promissory Notes
The Student Accounts Department encouraged students to complete their subsidized and unsubsidized loan promissory notes via the Internet during FY 2005. This promotion resulted in greater utilization of the online signup and increased the efficiency of the loan distribution process.
HOPE Invoicing and Changes to HOPE Eligibility
Effective FY 2005, the Student Accounts Department began transmitting an electronic invoice and file to the Georgia Student Finance Commission before the beginning of each term. GSFC processes the file and electronically transmits HOPE scholarship funds to the University. This new process required significant programming changes by
Administrative Information Systems (AIS) staff in order to meet the specifications required for invoicing. The HOPE disbursement regulations require the University to provide the details of the funds to be applied to fees, books and tuition charges. AIS also completed the changes necessary to reflect the maximum dollar amount that a student may receive in HOPE scholarship funds for fees charged by the University. The State implemented this cap on fee reimbursements based on the amount charged by the University during the 2003-2004 academic year.
Summary of FY 2005-06 Goals
HOPE Book Allowance
Effective spring 2006, the Georgia Student Finance Commission will require the University to obtain each student’s permission to apply the book allowance portion of
will be disbursed to students who do not give their permission for the student account credit. These changes must be implemented for fall semester 2006.
Student Loan Collection
The Student Account Department began evaluating loan assignment agencies to assist in the collection of past due loans. UGA has experienced extremely low cohort default rates in the past due to in-house collections and the utilization of leading student loan
collection agencies. The department hopes to identify and contract with agencies that are able to provide excellent collection rates; that can advise management regarding current support systems provided by the Department of Education and Health & Human
Services; that will advise borrowers of cancellations, postponements, and deferments; that are knowledgeable of different billing agencies; and that will provide current information about the loan programs administered by the federal government and educational support organizations.
Imaging
The Student Accounts Department should complete the electronic imaging of 3000+ loan collection files using the software product purchased in FY 2004. This process should greatly enhance the efficiency of document storage and retrieval.
Annual FDL and Pell Changes
Each year the Office of Federal Student Aid issues a new version of EdExpress, the software system that processes federal Pell Grant and William D. Ford Direct Loan records between the University System and the Department of Education Common Origination and Disbursement division. The Student Accounts staff must review the implementation guide that accompanies the software and determine the impact the new version will have on aid processing and whether or not programming changes will be necessary for successful implementation. The staff will communicate with AIS
programmers to accomplish any needed changes. This process will begin in March 2006 and must be completed by May 2006 to accommodate the awarding of aid for the 2006-07 award year.
Statistical Information
Growth in Amount of Financial Aid Disbursements
The Student Accounts Department disburses federal and state funded loans, grants and scholarships as well as University and privately funded scholarships and loans. During FY 2005, loans, grants and scholarships disbursed to student accounts and mailed as remainder checks to students were $65,530,743, presenting a 7.75% decrease over FY 2004. The following graph illustrates the growth in financial aid disbursement from 2001-2005.
Loans, Grants, Scholarships and Student Deposits Disbursed 2001-2005
Fiscal Year
The following three graphs illustrate activity on loan funds advanced and collected by the University for the period 2001-2005:
Federal Perkins Loans, University Trust Funds, and Emergency Loan Funds Student Loan Advances 2001-2005
2002 2003 2001 2004 2005 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 2002 $0 $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,000 $180,000,000 2001 2003 2004 2005
Federal Perkins Loans, University Trust Funds, and Emergency Loan Funds Student Loan Collections (Principal & Interest) 2001-2005
Federal Perkins Loans, University Trust Funds, and Emergency Loan Funds Student Loans Outstanding 2001-2005
2001 2002 2003 2004 2005 $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 Fiscal Year 2002 2003 2001 2004 2005 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 Fiscal Year
Lisa McCleary Bursar Suzanne Brown Administrative Associate II
BURSAR’S DIVISION
ORGANIZATION CHART
Student Accounts Bursar’s Office
Sr. Accounting Technician Karen Pitts Bursar Lisa McCleary Assistant Bursar Therese Hodges
Systems Admin. Assoc. Tonya Terrell Administrative Assoc. II Suzanne Brown Sr. Financial Accountant Susan McCullough Sr. Operations Supervisor Becky Sanders Senior Accountant Kelly Jones Sr. Accounting Technician Leah King Accountant Nicole Burkhalter
BURSAR’S OFFICE
ORGANIZATION CHART
Assistant Manager Amy Harkins Accounts Receivable Department Sr. Accounting Technician Tonya Seay Sr. Financial Accountant Elizabeth Quillian IT Professional Specialist Jennifer Lazo Sr. Accounting Technician Trisha BeasleyCustomer Service Rep. Erica Owensby Customer Service Rep.
Tiska Banks
Senior Accountant Johnsie Davis
Sr. Accounting Technician Aimee Ginn
Manager Shannon Lay
Assistant Manager
Deidra Jones Reception
Loan Collection and Accounting Sr. Accounting Technician Mary Burger
STUDENT ACCOUNTS
ORGANIZATION CHART
Accountant Kim Free Accountant Cheryl Summers Sr. Operations Manager Marcie Berrong Sr. Accounting Technician Melanie Jones Sr. Accounting Technician Ann Smith Sr. Accounting Technician Jennifer Matthews Sr. Accounting Technician Kristie Harwell Accounting Technician Angela Seals Sr. Accountant Michele SellersLoan Collection Officer II Mike Tiller
Loan Collection Officer I Gail Sloan
Customer Service Rep. Karen Kelley
Customer Service Rep. Sandy Stone
Customer Service Rep. Vacant
