Students receive debit card for financial aid purchases
Iliana Deanda
When it comes to receiving money for financial aid, most students will agree that the process has become a pain. Whether it is waiting to receive the money or being dropped from classes due to late payments, students are having problems with the financial aid process.Maricopa Colleges have come up with a solution for its students, allowing them to receive a prepaid debit card as an option of the disbursement.
“The district was looking for a better option for students to receive their financial aid refunds primarily in a quicker (and) convenient way,” said manager of cashier services, Jeannette Cernetic.
“In the past we just sent paper checks (which) took a while and cost the colleges a lot of money to print checks to mail checks. Students wouldn’t get checks because of address changes and various other things.
“So, as a district, they wanted to change that and make it easier and faster for students to get their checks,” Cernetic said.
Maricopa Colleges took into account student suggestions for a better method of receiving financial aid. The Citi prepaid services debit card fit the guidelines that students requested.
“Students were asking for direct deposit. They were looking for other options to get their refunds.
“So, the district went out (in search) of vendors. Sometime last year, the district went out looking for vendors who could supply the service for (MCC),” Cernetic said.
“We picked out the best (vendor) that didn’t charge students fees that was going to be the quickest and most convenient for students. Overall, Citi prepaid services is the group that we chose,” she said.
The Citi bank prepaid debit card was implemented late this summer. The full launch will be this fall.
Students were sent emails through their Maricopa Gmail account advertising the program.
“The way that this whole option works with Maricopa Student Reform Program (MSRP) is that if a student is getting financial aid, they will get an email from Citi prepaid services.
“In that email, it will give (students) an activation code that lets them know that they have a refund coming or that they need to go and sign up for a method of disbursement,” Cernetic said.
“Students need to click on the link that was sent in the email, which will take them to a Maricopa site linked with Citi bank and have an option of three methods of disbursement for the financial aid,” she said.
With Citi bank prepaid services, students are able to choose from three disbursement options, a pre paid debit card, direct deposit, or a standard check. This allows for the whole process of financial aid to be easier for students.
The debit card is good for three years. It has an expiration date like a regular debit card. After that time frame you would have to order a new one.
It takes 5-7 business days to recieve a card.
If a student is getting financial aid, they will get an email well enough ahead of getting the disbursement, so that can order a card and have it in their hands when the money is disbursed.
