Student Financial Services

Student Affordability and the Impact on the Business Office

Joseph Weglarz Stefanie CusanoExecutive Director, Student Financial Services Assistant Director, Student Accounts

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About Marist College

• Marist College, recognized for excellence by U.S. News & World Report, Time, and "The Princeton Review," and by "Barron's Best Buys in College Education," is noted for its leadership in the use of technology to enhance the teaching and learning process.

• Founded in 1929, Marist's 210-acre campus overlooks the Hudson River in the heart of the historic Hudson Valley, midway between New York City and Albany, the state capital. Marist branch location in Florence, Italy.

• Enrollment 14-15: • 4,764 Traditional Undergraduate Students• 1,359 Graduate & Adult Students

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Agenda

• Student Financial Services “One Stop Shop” model

• Student Receivables

• Freshman Annual Tuition Letter

• Financial Literacy

• SFS Initiatives

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• Financial Aid, Student Accounts, and Student Employment merged in June 2006

• Seamless service to students and families with increased customer satisfaction

• Dedicated counselors to assist students with college affordability and debt management (Billing & Financial Aid)

• Reduction in Student Account Receivables

• Reduction in Operating Costs

“One Stop Shop” Model

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Student Receivables

• More efficient Third Party billing

• Payment Plan funds disbursed weekly to the college

• International Payment Gateway

• Student financial planning correspondence

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Promoting Affordability• Affordability Guides

Veterans

• Net Price Calculator- Federal Government Mandate Effective October 2011

Traditional Undergraduate Graduate

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Net Price Calculator: Landing Page

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SFS Initiatives

• Developed SFS Call Center: Spring 2013 • Peak billing periods • No additional operating costs• Increased office productivity • Decreased average wait time on hold

• The call center assisted in decreasing the average overall SFS call wait time by 80%

• Phone calls coming into the SFS Call Center experienced a wait time of .04 seconds

• Business Plan for Financial Literacy• Increased awareness• Smart Borrowing

• Default Rate: 2% Marist, 7.2% Average Private 4 year

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• Individualized Counseling • Traditional • Adult Undergraduate• Graduate • Military• International

• Tuition Insurance• Effective Fall 2013

SFS Initiatives

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