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Placing Funds on Rocket Card

Placing Funds on Rocket Card. Financial Aid/Payroll/AP. Defining the issue: Funds have been placed on a student’s Rocket Card as a reward Needs to be reviewed by Financial Aid to be properly routed Probable violation with the IRS and the Department of Education

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Placing Funds on Rocket Card

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  1. Placing Funds on Rocket Card Financial Aid/Payroll/AP • Defining the issue: • Funds have been placed on a student’s Rocket Card as a reward • Needs to be reviewed by Financial Aid to be properly routed • Probable violation with the IRS and the Department of Education • W-2’s, 1099’s, 1098T’s, financial aid need formula • Tell us what the process is currently to request funds to be placed on a student’s Rocket Card

  2. Placing Funds on Rocket Card Financial Aid/Payroll/AP • Potential Solutions: • Document flow • Funnel requests to FA who will be charged with distributing appropriately • Other ideas? • Communication plan – need to plan communications to all students and departments to minimize “surprises”

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