Oss Student Finance
- 1. ORACLE DATA SHEET ORACLE STUDENT SYSTEM – STUDENT FINANCE 11i KEY FEATURES The Oracle Student Solution allows versatile definition and FEE CALCULATION • Multiple fee types, categories, maintenance of discrete student tuition and fee charges and and flexible business rules payments, and provides a set of tools to establish the rules support virtually any fee assessment requirements. controlling their application. • Supports third party charges such housing, dining, Oracle Student Solution enables you to establish multiple tuition rates based on bookstore, etc. Permits any type of charges to be student type, program, and residency and also based on non-credit and continuing centralized for each student. education fees and user-defined fee types and fee. The ability to make a fee STUDENT BILLING assessment of students prior to registration is also available. • Generate billing information for all students or a specific Tuition and fees may be structured by teaching period, units, unit sections, credit group. points, locations, or combinations of these. External or third-party charges (such as • Students can view and pay from housing or dining), or charges which are optional, can be incorporated into the outstanding charges on-line. student system charges. Thus, all student charges are accommodated by the system. • Staff view extensive details of all transactions using Student Account Workbench. • Calculate finance and late Billing is supported by the ability to select a population for billing and extract the charges – and waive the necessary billing information to support the generation of student bills. Students charges if needed. may view their outstanding balance through self-service forms, as well as pay tuition SPONSORSHIPS AND FINANCIAL AID and fees, and other charges on-line using iPayment. • Post credits to the students’ accounts for third party payers. Automatic assessment and application of finance charges and late fees can be • Apply financial aid credits, accomplished. Charges are assessed using flat rate or periodic rates based upon including student loan proceeds received through average daily balance, actual balance, or calculated balance outstanding for a fee EFT. period, month, accrual period, or academic year. In addition, this feature will • Intelligent account analysis to support the need to waive a finance charge or a late fee at the individual student determine financial aid refund procedure. account level, at the fee type level, and at an individual transaction level. • Post “estimated” financial aid to the students’ accounts – automatically removed when Sponsorship programs are managed in the system with the ability to record the aid is final. sponsorship award, apply funds to the student accounts, and extract the billing information needed to support billing the sponsor on behalf of the student. The institution may allow for automatic dropping of enrollment units based on non- payment by setting up a process which will evaluate payments made against enrollment units and drop units that have not been paid by the end of the day. Other key features include automated account credit/debit updates and December 2002 1
- 2. ORACLE DATA SHEET reassessments, maintaining charge and payment history setting, installment/contract payment schedules, rule-based refunds/penalties, and third-party billing. Individuals or groups of students may be automatically placed on financial hold when certain institution-defined conditions are met. The system provides for direct posting of student tuition and fee charges, refunds, and direct postings and adjustments of financial aid through a tight integration with the financial aid module. Student Finance controls student and 3rd party billing, revenue distribution, multiple fund accounting for receivables, and an interface to the Oracle General Ledger via Oracle Receivables. Figure 1. Student Self Service: Payment Online December 2002 2