Update on What’s New

Updated 10/07

Last We Knew:

SB 06-202 passed last year which allows flexibility for schools to request use of private collection agencies to collect past due debts as opposed to placing them with the State of Colorado Central Colletion Service, as is required by law. Last year we were told that rulemaking could take a long time, possibly 6-12 months but maybe even longer. Rulemaking involves revising the state Accounts Receivable Rules and State Fiscal Rules to incorporate the new legislation. Rulemaking must be completed before waivers are submitted to the State Controller.

In The Meantime:

The University of Colorado at Boulder received permission by the State Controller to submit a waiver in advance of rulemaking being complete. The waiver was submitted on August 22, 2007. The waiver asks permission for CU Boulder and CU Boulder Continuing Education and Professional Studies to send accounts receivable, Federal Perkins loans, and institutional loans for second and thrid placements to private collection agencies. The waiver will be made available to other schools in Colorado as an example if it is granted by the State Controller's Office (SCO).

What’s Next:

We wait to hear from the SCO.

If you have questions about the process, we’ll do our best to answer them. Please email Suzanne.jacobs@colorado.edu