PNC Student Financial Account Data
On October 30, 2015, the Department of Education (DOE) published amended Cash Management regulations. In accordance with DOE Cash Management regulations under 34 CFR 668.164(e) (2) (vii) and 668.164 (f)(4)(v), UMBC is disclosing the information below as reported to us directly from PNC Bank.
1. Total consideration paid in the period July 1, 2024, through June 30, 2025: Contract payment of $20,000 + ATM rent of $10,000 = $30,000 total consideration
2. Total number of customers holding student financial accounts that originated under the contract from July 1, 2023, to June 30, 2025: 638
3. Mean student costs in the year ended June 30, 2025: $10.94
4. Median student costs in the year ended June 30, 2025: $0.00
Third-party servicer contract for refund management