Financial Aid/Payrol l /AP

Placing Funds on Rocket Card

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

Financial Aid/Payrol l /AP

Placing Funds on Rocket Card

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”