• Facebook
  • Twitter
  • RSS
66°
Wednesday September 17, 2014
View complete forecast
News-Sentinel.com Your Town. Your Voice.
Local Business Search
Stock Summary
DowN/AN/A
NasdaqN/AN/A
Nasdaq3488.8929.75
S&P 5001660.0610.46
AEP46.560
Comcast41.82-0.13
GE23.600
ITT Exelis12.240
LNC35.240
Navistar36.490
Raytheon67.750
SDI15.550.17
Verizon50.820

Ivy Tech to go after student debtors' tax refunds

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Sunday, February 3, 2013 - 10:28 am

ANDERSON — Ivy Tech Community College is asking the Indiana Department of Revenue to divert tax refunds of students who owe the college money.

Chief Financial Officer Chris Ruhl tells The Herald-Bulletin (http://bit.ly/UD9HCM ) that the college loses out on about $12 million each year because of student-owed debt. That's about 1.5 percent of the college's general fund.

He says collection agencies only recover about $1 million a year.

Most of the money owed is related to federal financial aid owed by students who drop classes but fail to repay the assistance.

The statewide college has implemented a tax intercept program in an effort to improve those collections. Ruhl says Purdue University and other colleges use the program and predicts that it will be a "significant tool" for Ivy Tech.