IntelMBA Letter of Credit Process

1
Intel/MBA Letter of Credit Process

• The W. P. Carey School of Business and Intel
  Corporation
• Working together to ensure payment of tuition
  and fees.

Written by Shauna Allison, MBA Account
Receivables Steven Dotson, ASU Student Business
Services Sandra Grissom, Intel Corporationand,
Kelly Walker, MBA Financial Aid
2
The Purpose

• Because the MBA program is trimester-based, and
  ASU uses semester-based billing, you will need a
  tuition breakdown prior to submitting information
  in TAMS each time to insure that the account,
  TAMS, the LOC and eventually, the invoice all
  match.
• This is vital

3
MBA Tuition Breakdown

• Students will go into My School Tools and
  request a tuition breakdown.
• Courses are trimester-based and billing is
  semester-based. (Some courses will be billed at a
  later date).
• Courses need to be on your schedule.

4
Tool
mySchoolTools http//wpcarey.asu.edu/tools/
5
Tool, cont.
6
Tuition Breakdowns
7
Intel/CAEL

• Intel uses a third party, The Counsel for Adult
  and Experiential Learning (CAEL) to assist with
  education benefits and payment processing.
• CAEL uses an online system called TAMS.
• You will be using TAMS to apply for Letters of
  Credit.
• These Letters of Credit (LOCs) will be used for
  tuition and related fees. An LOC is not an open
  line of credit.

8
The Application Process
9
Starting a New Application
10
Step One
11
Step Two
12
Step Three
13
Step Four
14
Step Four, cont.
15
Step Four, cont.
16
Step Four, cont.
17
Step Five
18
Step Five, cont.
19
Step Six
1234 Iowa Dr.TempeAZ 85282 US(480)
555-3455john.g.student_at_intel.com
20
Step Six, cont.
21
Step Six, cont.
22
Confirmation and Application Number
23
Confirmation and Application Number
24
The Letter of Credit
25
The Third Party Sponsor Credit (Internal)
26
What the Student Sees
https//www.asu.edu/interactive gtTuition
Billing gtPay your ASU Charges gtAccount Inquiry
27
Things to know

• A 35 third party sponsor credit fee will be
  charged to students using a Letter of Credit.
  Make sure to request that this fee be added to
  your Tuition Breakdown. This fee will be charged
  and Intel does pay this fee.
• Deadlines for LOCs to be faxed or emailed to ASU
  are always 35 calendar days into the semester.
• You may receive emails from CAEL with the subject
  line TAMS Online stating the invoice cannot be
  paid. This occurs when youve submitted Tri 2 or
  Tri 5 and the grades have not posted. Contact
  Kelly Walker for clarification when and if this
  happens.

28

• From intel_at_cael.org mailtointel_at_cael.org
• Sent Tuesday, April 22, 2008 1005 AM
• To Students Email Address
• Subject TAMS Online - Intel Tuition Assistance
  Program Payment for
• Application 1234567 Is Incomplete
• This email is to inform you that we have
  contacted Arizona State
• University WP Carey MBA as additional information
  is needed to process
• the payment for application 1234567. The
  documentation submitted from
• your educational provider for the below courses
  was incomplete. Please
• see the below comment for more details.
• Name Student Name
• Application Number 1234567
• Term 01/02/2008 - 05/09/2008
• Institution Arizona State University WP
  Carey MBA
• Course(s) (MGT 591) Leadership, Power,
  and Influence, (MGT 589) Strategic Management,
  (LES 597) Legal/Ethical Issues Business, (FIN
  591) Investment and Portfolio Management
• Comment We have been invoiced for 15
  credits across 2 applications. Requested
  credit hours equals 18. Requesting more
  information from school. Additional details may
  be found in the application comment section on
  the website.

29
Warning

• Do not ever divide your student balance (found on
  ASU Interactive) by the number of trimesters when
  entering information in TAMS. Your figures will
  always be wrong. This will cause problems for you
  when the invoice ASU sends does not match the LOC
  you received. The student will be responsible for
  correcting any LOC that is not calculated
  properly, and Intel may choose not to allow you
  to alter the LOC.

30
Remember!

• Ultimately, you the student are the responsible
  party for the balance on your student account.
  All of the people here today are here to help
  you, not to do the work for you. Your balance,
  your payment amount and due date (and possibly
  your late fees) are YOURS. Be aware of your
  account balances at all times. Review your
  account OFTEN. Intel does not pay late feesbut
  you will if you do not keep up with this process.

31
Invoicing and Documents

• ASUs Student Business Services will send one
  invoice to CAEL per semester.
• Your LOC is not an open line of credit. The LOC
  needs to match the account because the invoice
  will be for the amount billed on the student
  account, not to exceed the amount listed on the
  LOC.
• Credits can not be applied to a previous
  semester, or carried forward to another semester.
  Tuition breakdowns, TAMS applications, LOCs, and
  invoices all need to match the student account.
• If you add or drop a course, or if a coordinator
  adds or drops a course for you, it is up to you
  to make the necessary corrections to the
  application and the LOC.

32
And Finally.

• Intel will pay the LOC, as it is a promise of
  payment. HOWEVER, if the invoice exceeds the LOC,
  payment will not be made. If CAEL cannot match
  the LOC to the invoice, they wont pay. If for
  any reason Intel does not pay ASU, the place
  holder/credit that was applied at the beginning
  of the semester will be removed and the balance
  (and all applicable late fees) will be due in
  full and is the responsibility of the student.
• Make sure to turn in grades as soon as they are
  posted. If you still have not turned in grades at
  75 days, Intel will be in touch with you.
• Make sure to hold onto documentation for your
  records.