Skip to content Menu

NACUBO recently published Advisory 18-04, Frequently Asked Questions Regarding Overpayments by International Students, to address business officer questions. 

Bursars and student accounts staff over the years have shared concerns about some international students paying significantly above what the institution billed. Common questions include legal risks and how to adequately serve international students.

As a result, NACUBO, with guidance from its Student Financial Services Council and consultation from attorneys at Hogan Lovells, has prepared guidance that focuses on payments processed by third-party companies, potential money laundering issues, topics to include in an overpayment policy or procedures document, and how to mitigate potential legal risks associated with accepting overpayments.

The Frequently Asked Questions in the advisory report do not constitute legal advice; institutions should consult their legal counsel when applying the included general principles to particular situations.

Contact

Bryan Dickson

Assistant Director, Advocacy and Student Financial Services

202.861.2505

bdickson@nacubo.org


Related Content

2018 NACUBO Student Financial Services Benchmarking Report Released

New data indicate student payments and credit balance refunds are increasingly moving toward electronic methods. The NACUBO report also provides benchmarking data on other measures, including student account and loan receivables, third-party payments, staffing, and expenditures for student financial services.

NACUBO Tuition Discounting Study

The annual NACUBO Tuition Discounting Study (TDS) measures the tuition discount rates and other indicators of institutional grant awards to first-time, full-time freshmen and all undergraduates who attend private, nonprofit (independent) colleges and universities.

NACUBO Provides Customizable 1098-T Letter

NACUBO has developed sample language to help colleges and universities explain to students and families the change in reporting for tax year 2018 on IRS Form 1098-T.