Do you have a hard time managing the manual and often inefficient processes involved in administering refunds at your institution? How do you justify the high costs of manually processing refunds?
Industry research has proven that it can cost upwards of $40 to distribute a refund check to a student using a typical internal refund solution. In addition to the high cost, it is often a slow manual paper check process.
ECSI’s RefundSelect Solution is web-based and reduces cost while increasing efficiency for your office, and providing convenient refund options for your students. ECSI is excited to announce that we have partnered with CitiBank to offer Prepaid Cards as a refund option for your students!
Higher Education institutions can positively impact their budgets and streamline operations by adding more cost effective electronic alternatives for student refunds. ECSI offers a solution that helps Colleges and Universities to expediently deliver funds with less administrative effort, while ensuring compliance with all Title IV and other requirements.
Our solution eliminates the need for institutions to collect and manage student bank account information, yet offers students the freedom of selecting how they receive their funds -- via prepaid card, direct deposit or paper check. The transition to electronic payments produces efficiencies for your institution while delivering benefits of flexibility, convenience and control to the students.
Need more information?
For more information on these and other industry-leading products and services we offer, please contact the ECSI Sales Department.