Change Proposal: Excess Funds Disbursement

Students who have paid more than they owe on their bills or students who have been awarded financial aid over and above the amount due on their accounts are issued excess checks. In some cases, the current system struggles to provide timely excess checks. There can be lags in the transfer of data between offices, resulting in delays. It is estimated that 1/3 of excess checks are available for students during the first week of the semester, and students actually pick up about ½ of those checks.

Because PeopleSoft will enable information to flow from office to office in real time, the lags experienced in the exchange of data among the older systems will be largely eliminated. Thus, PeopleSoft will enhance the University's capacity to issue accurate refunds in a timely manner.

Currently, students are notified at the end of the semester when an excess check remains for them to pick up at the Bursar's Office. With PeopleSoft, the notification and the check itself will be printed at the same time and the number of checks waiting to be picked up should diminish. For graduate students, the system will process tuition waivers faster and eliminate the cross-checking by financial aid that currently delays the production of excess checks. By providing excess checks in a timely manner, the University demonstrates greater sensitivity to students' financial challenges.

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