The sorority cost/money/financial thread.

[QueenD]

Originally Posted by GreekOne

As a parent, I despise Greek Bill. This organization charges $37 handling fee per student. For a chapter with 200 members, that is $7400 in fees for just one year or semester (can't remember which). Multiply that times the hundreds of chapters around the country x all the groups using their services. They are making a mint! Back in our day all of this was handled by our chapter Treasurer.

I know that it streamlines the process of collecting dues and hounds those with emails that haven't paid. But, I would think that each NPC could develop their own version at a far less cost and alleviate some of the financial burden on each member.

Also, when I opted to pay my daughter's dues by semester, I got monthly reminders. When I questioned Greek Bill why I got an Oct notice for a bill that wasn't due until January, they said that is the way their system worked. I can't imagine if other organizations harassed you for payment before the due date. (Imagine getting a reminder about your mortgage every week until it was due--even though only due once a month!)

For those not using Greek Bill, be happy you are not!

A $37 handling fee per student is a bargain when you compare it to trying to keep track of this stuff on paper. Someone has to pay it, as comprehensive accounting software that does this stuff for hundreds of accounts isn't gong to be free. $7400 / semester is a bargain for all these tools do for a chapter. It's either going to be called out as a regular charge for the billing system or buried somewhere in the general chapter dues.

[Titchou]

Originally Posted by QueenD

A $37 handling fee per student is a bargain when you compare it to trying to keep track of this stuff on paper. Someone has to pay it, as comprehensive accounting software that does this stuff for hundreds of accounts isn't gong to be free. $7400 / semester is a bargain for all these tools do for a chapter. It's either going to be called out as a regular charge for the billing system or buried somewhere in the general chapter dues.

Absolutely! And a real benefit is that it relieves the chapter vp:finance from the wrath of the members. It's simply the system and the vendor runs it. Very similar to billing systems for high schools - School Admin/Smart Tuition/etc. And also very much like MC/Visa. With credit cards the merchant pays the fee for the transaction and imbeds that in the cost of the merchandise. At least GreekBill shows it up front. It's a bargain!

[OleMissGlitter]

I wish there would have been GreekBill around when I was a collegian! My BFF and roommate was Chapter Treasurer. It was tough on her. She had to hound sisters and call them to Standards when they didn't pay their bills. The billing companies take the sisterhood part out of being in a sorority for sure. However, they help with the "Business" side since so many parts of a sorority/fraternity are run and handled like a business. I can't imagine what the fees are like for a chapter at Ole Miss where some average 500 members! But in the long run, it's probably worth it. It also means the financial adviser doesn't have to spend as much time writing reports and the like.