A majority of student scholarship, award, and grant disbursements come to Davidson College in the form of an Electronic Funds Transfer. Occasionally, the payor will make a disbursement by a paper check.
This policy seeks to inform students and college employees of the procedure for processing a paper check payable to a student or parent.
The Office of Financial Aid shall forward any scholarship, award, or grant disbursements arriving in the form of a paper check to the Office of Business Services.
The Office of Business Services shall obtain the necessary endorsements so that the check may be deposited and posted to the student's account.
The Controller/Director of Business Services shall oversee this policy and review it at least once every two years. Changes to this policy shall be made in accordance with the college's Policy on Policies.
If the check is received in the Office of Financial Aid, that office shall notify the student that the check is available for endorsement and then send the check to the Office of Business Services which shall keep the checks in the safe until the student endorses the check. If checks are received directly in the Office of Business Services, that office shall notify the Office of Financial Aid. The Office of Financial Aid will determine whether the checks should be posted to the student's account or possibly returned to the payor.
The Office of Business Services shall observe the following administrative procedures:
Printing process is the same for all student payments.