CASHNet: Getting Started
This is not a typical blog, as it is more of an effort at disseminating information about the new CASHNet system being used by the Business Office. It affects all students and the way we handle financial transactions; I want students to know that changes are occurring.
Efficiency and cost savings are the reasons for the change to the electronic billing, payment and refund system. Students will now have access to their account 24 hours a day, seven days a week. Payments may be made at any time and refunds will be processed more quickly by being directly deposited into students’ bank accounts.
A special mailing will go out Friday to explain these changes, but I want to address them here, too.
Access to billing statements is provided through the Web for Student portal on the OIT Web site. While there, a student may look up their account balance and pay with a credit card or electronic check.
Payments made with a credit card are subject to a 2.75% service fee paid by the student. VISA payments are not accepted, due to VISA banking regulations that permit only a flat fee as a service charge. Electronic checks will be accepted with no service fee being passed on to the student.
This new process provides added safety from identity theft. No credit card numbers, or personal information, are stored on campus. It is also convenient for budgeting, as students select the payment amount that is convenient for them.
Through e-Billing, students are provided a customized billing statement online. Students will receive an e-mail indicating the bill is available for viewing. The bill will include payment options and due dates. Students may grant access to parents, or others, to view the account and make payments.
With e-Refunding, students will have quicker access to refund amounts which will be directly deposited into their bank account. Students may use existing banking relationships and make changes online.
CASHNet complies with all of the laws, rules and regulations associated with our university. It is an opportunity to utilize more technology in our business transactions.
In providing more efficient financial transactions, OIT is reducing the cost of doing business, which ultimately results in lower tuition and fees for students.
Efficiency and cost savings are the reasons for the change to the electronic billing, payment and refund system. Students will now have access to their account 24 hours a day, seven days a week. Payments may be made at any time and refunds will be processed more quickly by being directly deposited into students’ bank accounts.
A special mailing will go out Friday to explain these changes, but I want to address them here, too.
Access to billing statements is provided through the Web for Student portal on the OIT Web site. While there, a student may look up their account balance and pay with a credit card or electronic check.
Payments made with a credit card are subject to a 2.75% service fee paid by the student. VISA payments are not accepted, due to VISA banking regulations that permit only a flat fee as a service charge. Electronic checks will be accepted with no service fee being passed on to the student.
This new process provides added safety from identity theft. No credit card numbers, or personal information, are stored on campus. It is also convenient for budgeting, as students select the payment amount that is convenient for them.
Through e-Billing, students are provided a customized billing statement online. Students will receive an e-mail indicating the bill is available for viewing. The bill will include payment options and due dates. Students may grant access to parents, or others, to view the account and make payments.
With e-Refunding, students will have quicker access to refund amounts which will be directly deposited into their bank account. Students may use existing banking relationships and make changes online.
CASHNet complies with all of the laws, rules and regulations associated with our university. It is an opportunity to utilize more technology in our business transactions.
In providing more efficient financial transactions, OIT is reducing the cost of doing business, which ultimately results in lower tuition and fees for students.