Collection Practices

[Jami Lamoreaux]

Good Afternoon all,

 

A few questions here to see what other Universities are doing?

 

 

1. How long do you hold onto your student accounts before writing them off?

 

2. Does this write off happen as you prepare to send accounts to your external third-party collection agencies or later?

 

3. Once in outside collections, do you continue to input payments onto the student's accounts (Monthly) as you receive these payments from the collection agency?

 

4. Or do you collect them off the student account and account for them in a different manner onto another ledger account?

 

Truly appreciate any feedback, advice or resources.

 

 

 

Please let me know if you have any questions or concerns.

 

 

Mrs. Jami LaMoreaux Student Accounts – Collections Supervisor Western Governors University  JLamo...@wgu.edu 877-435-7948 Extension 3387

 

 

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[Lisa Raffin]

Hello,

1. How long do you hold onto your student accounts before writing them off?  We write off at 7 years. The account is placed on a financial hold and if the student wished to return, they must pay the write off amount in full with cash, cashier check or money order.

 

2. Does this write off happen as you prepare to send accounts to your external third-party collection agencies or later?  We send to collections and allow it to stay there for 7 years. Then we pull it back and write it off.

 

3. Once in outside collections, do you continue to input payments onto the student's accounts (Monthly) as you receive these payments from the collection agency?  We post all payments from the collection company when they send the funds. (they send 2x per month) 

 

4. Or do you collect them off the student account and account for them in a different manner onto another ledger account?  We keep all accounts in the student ledger and monitor it there. Including the 7 Year WO

Lisa Raffin (she/her)

Director of Student Accounts & Accounts Receivable/Bursar

(541) 463-3573 office

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[Brian Bjorgen]

Answers below.

 

Sincerely,

BRIAN BJORGEN

Receivables Advisor

Student Fiscal Services

Phone: (206) 616-9742 

 

 

  

 

 

From: 'Jami Lamoreaux' via Western Student Financial Services Community <WS...@googlegroups.com>
Sent: Thursday, May 2, 2024 12:11 PM
To: Western Student Financial Services Community <WS...@googlegroups.com>
Subject: [WSFS] Collection Practices

 

Good Afternoon all,

 

A few questions here to see what other Universities are doing?

 

 

 

1. How long do you hold onto your student accounts before writing them off?   Approximately 2-3 years from the original due date. 

 

2. Does this write off happen as you prepare to send accounts to your external third-party collection agencies or later?   Accounts assigned to a collection agency are worked for 12 months.  If unpaid, we hold the accounts for another year, and then process a write-off..

 

3. Once in outside collections, do you continue to input payments onto the student's accounts (Monthly) as you receive these payments from the collection agency? We block most direct payments to the school. But the agency if we happen to get a direct payment.  We post payments received by the agency.

 

4. Or do you collect them off the student account and account for them in a different manner onto another ledger account?

 

Truly appreciate any feedback, advice or resources.

 

 

 

Please let me know if you have any questions or concerns.

 

 

Mrs. Jami LaMoreaux Student Accounts – Collections Supervisor Western Governors University  JLamo...@wgu.edu 877-435-7948 Extension 3387

 

 

CONFIDENTIALITY NOTICE

This E-mail may contain confidential information. All information transmitted is intended only for the use of the

above named recipient. If you are not the named recipient, you are not authorized to read, disclose, copy, distribute

or take any action in reliance on the information. The recipient is instructed to inform the sender of the address

error immediately by replying to this message.

 

--

[Annie Park]

Please see below.

 

~ Annie Park

Director, Accounts & Loans

La Sierra University

 

From: 'Jami Lamoreaux' via Western Student Financial Services Community <WS...@googlegroups.com>
Sent: Thursday, May 2, 2024 12:11 PM
To: Western Student Financial Services Community <WS...@googlegroups.com>
Subject: [WSFS] Collection Practices

 

Good Afternoon all,

 

A few questions here to see what other Universities are doing?

 

 

 

1. How long do you hold onto your student accounts before writing them off? 7 years based on the last payment date

 

2. Does this write off happen as you prepare to send accounts to your external third-party collection agencies or later? If the account has been written-off, or is pending write-off, we still send them to the agency   

 

3. Once in outside collections, do you continue to input payments onto the student's accounts (Monthly) as you receive these payments from the collection agency? Yes, the last financial transaction on the student’s account will show the write-off and a zero balance. Any payments received are applied directly to the student’s account resulting in a credit and then we reverse that same amount from the write-off balance

 

4. Or do you collect them off the student account and account for them in a different manner onto another ledger account? We are a Banner school, and all financial transactions are made on the student’s account

 

Truly appreciate any feedback, advice or resources.

 

 

 

Please let me know if you have any questions or concerns.

 

 

Mrs. Jami LaMoreaux Student Accounts – Collections Supervisor Western Governors University  JLamo...@wgu.edu 877-435-7948 Extension 3387

 

 

CONFIDENTIALITY NOTICE

This E-mail may contain confidential information. All information transmitted is intended only for the use of the

above named recipient. If you are not the named recipient, you are not authorized to read, disclose, copy, distribute

or take any action in reliance on the information. The recipient is instructed to inform the sender of the address

error immediately by replying to this message.

 

--

[Tess D Herrera]

Hi all,

 

I’m not sure if my question could be answered here but I’ll give it a try.

 

Is there any school here that offers Health Profession loans to your students (HRSA funded loans)? If so, have you ever returned excess cash to HRSA?

Thank you to those who can share information.

 

Thank you.

 

TESS D. HERRERA
Accounting Manager
Student Fiscal Services
Finance, Planning & Budgeting 

1410 NE Campus Parkway
Seattle WA 98105 

te...@uw.edu  / finance.uw.edu / washington.edu/opb  

 

 

From: 'Annie Park' via Western Student Financial Services Community <WS...@googlegroups.com>
Sent: Wednesday, May 8, 2024 11:37 AM
To: Jami Lamoreaux <jami.la...@wgu.edu>; Western Student Financial Services Community <WS...@googlegroups.com>
Subject: RE: [WSFS] Collection Practices

 

Please see below.

 

~ Annie Park

Director, Accounts & Loans

La Sierra University

 

isit https://groups.google.com/d/msgid/WSFS/816d5480cffbea03c854ab51310a92a6%40mail.gmail.com.