Student Account Billing Services

The vendor is required to provide student account billing services or capabilities, but not limited to:
•    Provide student refund disbursement services for the university. 
•    These refunds shall include federally funded financial aid refunds, tuition refunds, and other student refunds. 
•    These financial services for the students while acting in accordance with the department of education rules and regulations and complying with refund delivery regulations. 
•    Provide a solution for the distribution of refund disbursements to the students using files securely transmitted to the contractor by the university.
•    Solution must work with files created through the university’s software system and preferably through transmission via platform. 
•    Provide immediate disbursement of refunds to the students by one of the following methods which must comply with the department of education refund delivery regulation. 
•    The method for each student will be selected by the student and will default to paper check if no method is selected.
o    Via a contractor provided, FDIC insured demand deposit account, which the university desires to be linked to a visa or master card branded debit card. 
o    Direct deposit to student’s existing bank account. 
o    Paper check mailed to the student to include all due diligence associated with any returned checks in accordance with title iv regulations.
•    Electronically notify students of the distribution of financial aid refunds in a manner that meets all title iv regulations. 
•    Provide real-time information on the status of refund payments displayed in a refund history table. 
•    Provide auto-email notifications for refund delivery, regardless of the preference of distribution. 
•    Provide the ability to re-order replacement cards online, reset pins instantly online, conduct wire transfers, stop payments, and order paper checks.
•    Funds to be sent electronically to accountholders from any checking account. 
•    The university desires that this be allowed at no charge. 
•    Display a transaction send money history chart online. 
•    The university daily electronic interchange of data necessary to effectively maintain services to the university’s students. 
•    Access to national atm and pos networks. 
•    Provide for the ongoing replacement of lost, stolen and damaged refund disbursement cards. cardholders must be able to report a lost or stolen card and have it deactivated 24 hours or day, 7 days or week, via a toll-free number and via the website
•    Handle exceptions with respect to refund payment delivery, including error resolution lost and stolen checks, lost and stolen debit cards, incorrect or missing payments, undeliverable address or account and contact information, and others as deemed necessary. 
•    The university requires the ability to reverse refund payments from the contractor’s system online in case of error or ineligibility for refund. 
•    The following specific services:
o    The transfer of student refund data from the system and the process for sorting and processing direct deposit and paper check refunding. 
o    A payer will enter banking and address information into the refund system. 
o    A parent, who will be receiving a direct plus loan refund, would enter banking and address information into the refund system. 
o    A “third party” payer would receive a refund through the system. 
o    Un-cashed checks and erroneous banking information are handled. 
o    The refund reporting on a daily, weekly, and monthly basis 
o    Access to banking information and how it is stored. 
o    The import of current banking information from banner into the system. 
o    The ability to integrate with another vendor to allow a payer to “single sign on.” 
o    The ability to refund from multiple bank accounts. 
o    Banking products offered to students. 
o    Delivering customer service to the university, students and parents, including methods of communications and issue resolution.

- Contract Period/Term: 1 year
- Questions/Inquires Deadline: October 14, 2025