Presentation on theme: "1 Nelnet Payment Plans Your campus commerce and payment plan experts."— Presentation transcript:
1 Nelnet Payment Plans Your campus commerce and payment plan experts.
2 Put Students First Improve Access & Affordability –Spread payments out –Multiple plan options Convenience –24X 7 –Integration and automation to FMS Account Management Support from Lincoln, NE Low cost to students NO COST to College Enhance Student Success! How Can NBS Help?
3 Payment Plan Options Prescheduled, automatic, recurring payments - as your institution chooses! One sign up per quarter -Electronic authorization Payments are processed via - ACH Bank Draft or - Credit/Debit Card FMS automation for account information and adjustments Nelnet Maintains contact with payers throughout term Monthly reminder notice Missed payments (Process-Inform-Process) Change of Payment or amount due or date changes 800 number support reduces calls to business office
4 Flexible Plan Design Any number of payments Begin and end at any time No Interest, No Qualifying, No Credit Check, No Minimum Web enrollment Multiple student payment options under one system Program focused options
5 Account Managers (Payer & Staff phone support) Assist payers with setting up an agreement Support payer phone calls with questions on their payment plans Research banking problems and problem agreements Assist the institution with account management Answer questions and provide training MyPaymentPlan.com resource Manage payment plan agreements Manage the marketing material process NBS Payment Plans – Ongoing Support
6 Marketing Your Program 1.Hosted Splash Page 2.Web ready banner ads 3.Web Ready information button 4.Bookmarks 5.Posters
7 History of NBS/SBCTC Schools Relationship CollegeCustomer SincePlan Usage – Fall 2012 Usage % South Seattle CCMarch % North Seattle CCMarch % Seattle CentralMarch % Tacoma CCApril % Centralia CollegeJuly % Walla Walla CCNovember % Lower Columbia Coll.March % Lake Washington TCMarch % Shoreline CCAugust % Big Bend CC*May Bellevue CC*May Whatcom CCJune % * Implementing
8 Information Flow – eCashier 1.Student data from FMS to eCashier to create agreement 2.Enrollment Confirmation to FMS record 3.Payment posting 4.Balance change upload 5.End of Qtr. Processing (removes flag) 6.Student course drop
9 Goals –Eliminate manual posting of transactions by campus staff –Single Board IT supported Interface for NBS campuses –Eliminate special exceptions in FMS for campuses using NBS payment plans Scope –Set ‘Unusual Action’ code for Payment Plans –Automate posting of remittances to Student Accounts –Automate current student account balances for NBS payment plan re- balancing –Correctly calculate student refunds in FMS for campuses using NBS At 50% refund deadline Status –Freshe Legacy selected to do the design and implementation work –Seattle live and perfecting process Full Integration with FMS/SMS
10 Integration and Implementation overview Current Status How did we do it? Business processes changes Things we learned Efficiencies gained
11 Integration and Implementation overview State Board Role Programming Documentation College Resources/effort Nelnet Project Management Create eCashier site Create plan/term ID’s Create FTP process/access for school for file transfer Work with school on manipulating WACI Pages (screen scrape) Staff Training (InstaFACTS) Timeline – days Dependent on college resources
12 Thank you! We look forward to working with you. Paul Aries, RVP