BATESVILLE, Ark. (KAIT) - An area college has issued a partial refund to students for room and board after the school shut down because of the coronavirus pandemic.
Joseph Botana, executive director for business and finance at Lyon College, said they did a prorated rate to calculate how much money the students would receive.
“They love and miss them and they wanted to figure out a deed that would show that," Botana said.
However, the college offered a deal with the students once they found out some students began returning the refund to the college.
If students return the funds that were processed on April 17 to be put toward their Fall room and board, the college will apply an extra 20% of their refund to their 2020 Fall semester room and board.
So far, the college received around 50 checks from the students, totaling between $75,000 to $80,000.
“We are still employing our people, we are still keeping our employees on board, we are still paying our utility bills and running our operations, so that’s money we did have available that we had sent back," Botana said. "But, having it come back it allows us to have a little more cash flow.”
Summer camps and activities that typically help with cash flow might not happen, so the extra income helps the college.
“It’s a win-win because if they had a $2,000 refund, they’re getting an extra $400, they’re getting to apply to their room and board next year, and we’re happy to give it to them because we want it back and they are family," Botana said.