1 Jones County Junior College & BlackboardPay DELIVERING FINANCIAL AID FUNDS AND SUPERIOR STUDENT SERVICE THROUGH THE CARD PROGRAM When Jones County Junior College (JCJC) set out to modernize their financial aid process, the most important goal was to improve student service. With BlackboardPay, JCJC’s students enjoy free and clear access to their financial aid funds, and the college has significantly reduced check processing costs and increased overall deposits and participation in the closed-loop Bobcat Bucks program. At Jones County Junior College in Ellisville, Mississippi, disbursing funds to students has gotten a lot easier lately. JCJC implemented BlackboardPay in August 2010 to help students receive their financial aid and payroll funds faster than with a check or an Automated Clearing House (ACH) transaction, which can take up to three business days to clear. As a result, the number of checks being processed has reduced and on-campus deposits have increased. BlackboardPay is an FDIC-insured, prepaid account that can be issued on-campus, in real time, and integrated with the Student ID. As a safer alternative than carrying cash, BlackboardPay also protects students from traditional banking fees such as overdraft (NSF), PIN-debit and foreign ATM transaction fees. Campus Card Convergence: The JCJC OneCard Now Offers the Convenience of BlackboardPay to Give Students Instant Access to Financial Aid Credit Balances! The new student campus ID cards function as two cards in one – delivering access control and stored value with the college’s Bobcat Bucks program and the functionality of a prepaid debit bank card. JCJC cut the expense of processing paper checks, eliminating students having to wait in line to receive their checks and search for a check-cashing location. At JCJC, 70% of students receive financial aid, necessitating the issuance of approximately 9,200 checks every year totaling $10 million. By implementing BlackboardPay, JCJC immediately solved the problems of expense and inefficiency associated with fund disbursement. With BlackboardPay, Jones County Junior College has dramatically changed how financial aid credit balances are delivered. • More than 30% of JCJC financial aid recipients use BlackboardPay for immediate access to their financial aid disbursements • More than $2.5 million in financial aid credit balances processed for the academic year 2010-2011 • JCJC students avoid paying thousands of dollars in overdraft and traditional banking fees per year • Administrators have reduced the time and expense associated with paper check processing saving the school thousands of dollars annually • Bobcat Bucks deposits increased 600% since BlackboardPay was implemented • The Jones OneCard program has grown to more than $500,000 in sales The BlackboardPay Impact