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Schools / Colleges Solutions
ICS is uniquely qualified to help
schools and universities with collection and asset-recovery
needs. We can offer you the following:
- An understanding
of the specific collection needs of schools and universities
- A strong track record of successfully
collecting for schools and universities
- Experienced reps who understand the
importance of maintaining strong alumni relations
- Referenceable clients in the education
industry
Private
Schools
Faced with increasing concerns over the
safety and quality of public schools, more and more parents
are choosing to enroll their children in private schools.
While this means increased revenue for you, it also means
increased collection issues as parents fall behind on tuition
payments. Because tuition balances are often large, you cannot
ignore past due or delinquent accounts; however, you must
balance collection efforts with the need to maintain a pristine
image in the community. Tactics such as withholding services,
expelling students, or refusing graduation often result in
community backlash and may pose issues with your religious
affiliation. Most private schools do not realize that using
an outside collection agency actually provides a more diplomatic
and effective approach to collections. ICS can help you with
these issues and work closely with you to maximize your cash
flow and minimize your accounts receivable - while at the
same time preserving your relationships with students, parents,
and the community.
Universities
Colleges and universities face many debt
collection challenges. First, you face the challenge of managing
multiple types of past-due accounts - tuition, bookstore,
student loans, library accounts, health service accounts,
room and board, and parking fines. Then you face the challenge
of knowing who to collect from - the student incurring the
debt most likely does not have a great deal of money or incentive
to pay, and the parents may or may not be involved in funding
their child's education - so you often delay outside collection
attempts until after graduation. Then you face the challenge
of how to collect without upsetting the alumni of your institution
- since after all, alumni donations account for a sizeable
revenue stream. So how do you get the money that is owed to
you while still maintaining strong alumni relationships? ICS
provides the answer. ICS is experienced in collecting for
colleges and universities, both public and private. We understand
your challenges, and we know how to effectively collect your
money while at the same time allowing you to maintain control
over the student/alumni relationship. Because you are actively
involved in all communications with the student/alumni, you
are able to ensure that future alumni relations programs and
donations are not jeopardized.
In addition to providing you with collection services, ICS
is able to save you money by taking over your NSF checks.
By working with ICS, you can consolidate to a single service
provider and get the most cost-effective solution to your
credit and collection needs. ICS offers low fees and has one
of the highest collection success rates in the industry, so
contact us today to find out more about how ICS can turn time
into money for you.
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