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Refund Solutions for Higher Education

Colleges and universities can now conveniently disburse funds such as financial aid, work study payments, payroll and scholarships by the use of a prepaid debit card.

Converting from paper checks to electronic funds transfer not only streamlines the refund process, but makes it more economical for the students and the institution.  Students, parents and school administrators all benefit from faster, less costly and more secure distribution of funds.

Top 5 Benefits to the Institution:

  1. Significant cost reduction – Free to Institution
  2. Reduce administrative time – No phone calls and inquires about lost or stolen checks
  3. Easy to implement – No internal technical resources required
  4. Simplified payment process – Electronically send funds immediately
  5. Enhance “Green” Initiatives – No more paper checks

Top 5 Benefits to the Student:

  1. More Security – Safer than carrying large amounts of cash
  2. Immediate access to funds – No need to wait for check to be mailed
  3. Easy to Use – Can be used anywhere Visa or MasterCard is accepted
  4. Less expensive – No need to pay check cashing fees or to have a checking account
  5. Increase Financial Maturity – No more NSF’s or overdraft charges as with checking accounts

Students will appreciate the speed and convenience and schools will reap the rewards of an efficient funds disbursement process.  Please let me know if you would like more information on how to use Prepaid Debit cards to help with student refund disbursements.

Dcook@storedvalue.com

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