Transcript Funds put on Student Rocket Cards by Departments

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
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”