Brooks FI Solutions delivers practical, implementable solutions to Educational Institutions in the emerging Payments arena. Whether it is credit card acceptance for tuition, campus payment solutions, non-traditional student loans, finding a safe and efficient disbursement process for excess Financial Aid, to providing students with low-cost payment tools, Brooks has the experience to assist Educational Institutions to reach the right solution for their school.Engagements can range from a quick 10-day evaluation of a new payments process, RFP preparation, or vendor evaluation to a full-scale Strategic Plan or RFP Process. Because Brooks’ consultants have hands-on experience, we deliver practical, no-nonsense solutions that can be implemented successfully within our clients’ environment. To find out how Brooks can assist your Educational Institution, please click on the link below.
Affinity Credit Cards for Alumni and Students have been part of campus life for more than 20 years. There have been many changes over that time, from marketing methods and credit criteria to pricing and school compensation.
• Has the school’s program kept pace with these changes?
• Is the school happy with its compensation, marketing processes? Approval Rate?
• Is the Agreement coming up for a renewal?
The consultants at Brooks have been involved with affinity cards, especially educational cards, since their inception. We can assist the school in evaluation the performance of its program, and can often provide a plan for changes that will enhance the school’s revenue stream, enhance the approval rate, and / or improve the service levels of the Issuer.
Most schools now accept credit and debit cards for at least some payments, while others see their acceptance as too expensive for many high-dollar payments. Some have or have evaluated proprietary and other on-campus programs.
• Does the school have the right mix of where it accepts payments to maximize yield while lowering overall costs?
• Does it have the best deal where it does?
• Are there new applications / technology that would help the school further its goals?
Brooks’ consultants have solid experience in the Card Acceptance arena and can provide solid guidance for the school to maximize its payment strategy within the school’s unique environment.
Employers, including many Colleges and Universities, are beginning to take a hard look at eliminating paychecks and pay stubs, and for many, the addition of Payroll Cards is a key element. This interest has accelerated since the Fed has “legitimized” the product and more states enact legislation governing their use. But many questions remain, compounded by the misinformation many early vendors supplied, and overall confusion in the market.
• Are PayCards right for you and your employees? Is promoting Direct Deposit better?
• If so, who is the right provider?
• Can the employer mandate Direct Deposit? PayCards?
• How should the cards be priced to the employee?
• What will it cost the employer?
• What is the best way to communicate the product to employees?
• Are there other benefits that PayCards can bring to the employer and / or employees?
Brooks’ consultants have been involved with Stored Value cards, and particularly Payroll cards, for most of their history. They have worked in all aspects of cards, and can provide expert solutions for employer clients – whether the issue be determining whether a Payroll Card is appropriate, developing and managing an RFP to select a vendor, or assisting the employer in implementing the program.
Virtually every College and University embraces some form of Education Lending – especially government sponsored and guaranteed loans. For the most part, these are an easy decision to make, although the selection of the appropriate lender(s) may be more of a challenge. Processing them efficiently is also getting easier, as most lenders / servicers continue to automate. However, tuition and other education costs continue to rise, increasing the potential “financing gap” between parents / students and the school. Does the school offer these alternative “Gap” lending products? Should it? If so, does it have the right partner?
Brooks’ consultants have been involved in student loans – especially the non-traditional products – for more than 20 years. We will utilize that experience to plot the right course for the school – whether it be a review of new product alternatives, an operational assessment to lower costs and approve efficiently, or managing an RFP process to select the right partner.
Most Educational Institutions, from pre-school programs through Universities, are constantly seeking new ways to attract donations. The new Stored Value Card programs present an exciting new opportunity. From Gift Cards through Student Cards, Specific Use Cards, and Payroll Cards, there are many different programs that may benefit your Institution.
Brooks’ consultants have been involved with Stored Value cards in multiple forms, for most of their history. They have worked in all aspects of cards, and can provide expert opportunities for fund raising – whether the issue be determining whether a Stored Value Card is appropriate, developing and managing an RFP to select a vendor, or assisting the Institution in implementing the program.
Excess Tuition Reimbursement
Many Colleges and Universities are beginning to take a hard look the best way to manage the cost and effort behind the reimbursement of tuition above room and tuition, and potentially eliminating checks. For many, the addition of Stored Value Cards is a key element.
• Are PayCards right for the school and your students?
• Is promoting Direct Deposit better?
• If so, who is the right provider of each?
• How should the cards be priced to the students?
• What will it cost the school?
• What is the best way to communicate the product to the students?
• Are there other benefits that PayCards can bring to the school and / or students?
Brooks’ consultants have been involved with Payment Methods cards, and particularly Direct Deposit and PayCards, for most of their history. They have worked in all aspects of cards, provide expert solutions for educational institution clients – whether the issue be determining whether Direct Deposit, a PayCard, or both is appropriate, developing and managing an RFP to select a vendor, or assisting the school in implementing.