Oregon Institute of Technology

CashNet Implementation Discussed

CashNet: An efficient tool for the student to manage his OIT account balance

The cashier’s window will always be available during the week-day from 9:00 AM to 3:00 PM.

CashNet is available at anytime.

Why is OIT Business Office Implementing CashNet?

• Provide better service to students with greater efficiency and reduced administrative over head.
• A better electronic billing statement that can be viewed anytime day or night.
• Easier management of the student OIT account balance.
• More options for a student to pay his bill.
• More accessibility for a student to his account.
• Continue service of automatic refund deposits.
• Better online security with Payment Card Industry Data Security Standards (PCIDSS.)

Why is VISA going away?

• When we first started taking VISA payments the cost was small enough that it could be absorbed by the OIT business office.
• We want to expand the offering of this convenience but cannot pay the increased costs.
• Credit card use and their fees are climbing and in the near future OIT could be paying a hundred thousand dollars a year to allow this option.
• In the long run the student body pays the VISA fee.
• We did not want to pass this banking fee on to the rest of the student body.
• The credit card fee should fall on the person using this convenience.
• VISA will not allow a banking fee assessed as a percent. We could not come up with a constant flat fee that would be fair for all purchases.
• The OIT Business Office is offering these credit cards that allow us to charge a percentage fee:

• Master Card
• Dinners Club (new)

o American Express (new)

o Discover (new)

• We want to serve our whole student body in the best way we can while managing our resources in the best possible way.

What are my bill paying options?

• Sign-up a parent, guardian or another benefactor to pay. This will not give the benefactor any access to the student’s OIT Banner Web for Student account.
• Student or benefactor pay at the CashNet site with an:
• E-Check with no additional fee.
• Credit card with a credit card bank fee.
• Pay at the OIT cashier’s window with a check or cash during the cashier’s business hours.
• Send a check by mail to the OIT cashier’s office.

What are my refund options?

• Refunds can be deposited into a bank account by signing up in CashNet.
• Receive a refund check at the cashier’s window after all Financial Aid has been applied to the account.

How does CashNet make it easier to manage my OIT account balance?

• A student may sign-up a parent or other benefactor in CashNet for the billing process.
• A student or benefactor can view his balance anytime day or night.
• A student or benefactor can make a payment anytime day or night.
• A student has access to an easy to read electronic bill which he may print-out.
• The billing statement (E-bill) will always be as close as his computer.

Our goal in the OIT Business Office is to give the student as many options as possible to manage his
OIT account balance while being responsible stewards with state funds. We also encourage student accountability for his OIT account balance and discourage student debt.