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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.

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