At yesterday’s Budget and Finance Committee meeting, FAMU trustees supported a recommendation to write off $3.7M in student account receivable debt.
The university has not written off student debt since the 2004-2005 fiscal year. FAMU currently works with three collection agencies to pursue unpaid money.
The two largest sums were “Tuition and Fees,” at $2.3M, and “Housing,” at $654,264.55.
Additional write-off areas (from largest to smallest) included: Return of Financial Aid, Food Service-Meal Plan, University Parking Services, Returned Checks/Accounts Receivable, Other, and Short Term Loans.
FAMU students who owe money to the university are placed on academic hold. That prohibits currently enrolled students from registering for class and stops alumni from receiving transcripts until their outstanding cash balances are settled.
The $3.7M write off likely represents debt left by former students who either dropped out or transferred away from FAMU over the past five years.
The university has not written off student debt since the 2004-2005 fiscal year. FAMU currently works with three collection agencies to pursue unpaid money.
The two largest sums were “Tuition and Fees,” at $2.3M, and “Housing,” at $654,264.55.
Additional write-off areas (from largest to smallest) included: Return of Financial Aid, Food Service-Meal Plan, University Parking Services, Returned Checks/Accounts Receivable, Other, and Short Term Loans.
FAMU students who owe money to the university are placed on academic hold. That prohibits currently enrolled students from registering for class and stops alumni from receiving transcripts until their outstanding cash balances are settled.
The $3.7M write off likely represents debt left by former students who either dropped out or transferred away from FAMU over the past five years.
If students paid their bills, maybe we could have some decent campus housing.
ReplyDeleteYou know nothing 10:51. Go sit.
ReplyDeleteSounds like a valid comment ...
ReplyDeleteWhat problem do you have with simply paying your bills 1:24?