With the MyNIU system, students will have more control and responsibility over their finances.

Students will be able to see their financial account and Bursar’s bill on their MyNIU Web page, according to Bursar Kinga Mauger.

“If you pay online, you’ll be able to see it online,” Mauger said, adding that students will be able to access their account anytime.

Mauger said the office is moving from paper billing to electronic notices. As a result, no bill will be sent to a student’s permanent address.

A notice will be sent to students’ NIU e-mail accounts, meaning some students will be responsible for informing their parents of the bill.

In addition, MyNIU will allow the Office of the Bursar to explain the charges on students’ bills.

“They’ll be able to see their charges more clearly defined,” Mauger said.

CHANGES IN LENDING

In accordance with the system, NIU will be changing the way it does student loans.

Brent Gage, assistant vice provost of enrollment services, said the change from the Federal Family Education Loan Program (FFELP) to Federal Direct Lending (FDL) will benefit students.

With FFELP, a family chooses which lender they would like to borrow from, with a guarantee agency serving as a go-between the lender and the borrower. With FDL, the family borrows directly from the federal government.

“With FDL, the process is significantly expedited,” Gage said.

Financial aid counselor Jane Jordan also spoke positively about the change.

“If a student comes in and requests an additional $1,000 in addition to the money they’ve already borrowed from, we can do it immediately. The turnaround time is under a week,” Jordan said.

Gage said with MyNIU and FDL, students will be immediately contacted if they are eligible for a loan based on their Free Application for Student Aid (FAFSA).

EFFECTS ON THE OFFICES

Jordan said the integration of the different campus offices onto one system will speed up the bureaucratic process.

“We will be able to process a loan today, and if there are no complications, it’ll be in the Bursar’s tomorrow,” Jordan said about MyNIU.

Gage said that the new student information system will allow the financial aid office to evolve in its role.

“We hope to evolve to really be a financial advocate for students, to help them make good decisions,” Gage said.