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15 Additional Colleges and Universities Implement Higher One’s OneDisburse(R) Refund Management(R)

2008-07-21 09:00:00

15 Additional Colleges and Universities Implement Higher One’s OneDisburse(R) Refund Management(R)

  Over 1.2 Million Students at 185 College and University Campuses in the

  U.S. Benefit from Higher One's Services, Receiving Money Faster and With

                            More Refund Choices

    NEW HAVEN, Conn., July 21 /EMWNews/ -- Higher One, a

technology-driven financial services company serving higher education,

announced today that fifteen additional colleges and universities have

signed agreements to use Higher One's OneDisburse(R) Refund Management(R).

185 campuses in 37 states are now using the Higher One platform to improve

the disbursement of refunds to their students. Higher One has experienced

twenty percent growth in the number of schools served since the start of

2008. These signings were completed during the past two months and

represent more than 140,000 students.

    "Higher One is excited to introduce fifteen additional colleges and

universities to innovative financial products and services that benefit

students and universities," said Dean Hatton, President and CEO of Higher

One. "These new signings signify that the higher education community

continues to look to Higher One for simple and cost effective financial

solutions to improve their student services and decrease administrative

costs as these institutions face large budget cuts and high enrollment


Since May 7, 2008, these schools have signed on for Higher One's services: -- Armstrong Atlantic State University -- Blinn College -- Bossier Parish Community College -- Butler County Community College -- Central Piedmont Community College -- Chabot College -- Dixie State College -- Gateway Technical College -- Kansas City Kansas Community College -- Lane Community College -- Las Positas College -- Oklahoma City Community College -- Rend Lake College -- South Texas College -- Tyler Junior College "The rapid growth of Rend Lake College made it necessary to seek alternative methods of handling financial aid disbursement and campus refunds," explained Larry West, Vice President for Finance and Administration at Rend Lake College in Illinois. "Our current system of internal paper checks became antiquated, time consuming, and costly to the college. Higher One's services exactly matched what I was looking for in handling student accounts. I hope to expedite student refunds and to reduce the number of hours my staff needs to process disbursements and refunds." Higher One's services are tailored to serve college students' need for up- to-date account information. The OneAccount provides students with powerful tools that help with financial management, such as online statements they can access anytime and mobile messages to alert students when they have received their refunds. Students also have access to 24/7 online and secure customer service. As part of Higher One's commitment to educate students about fiscal responsibility, Higher One sends students regular tips on managing their money. "Our goal for the program at Tyler Junior College is to increase student satisfaction with the remainder reimbursement process," said Carol Hutson, Controller at Tyler Junior College in Texas. "This includes providing students access to their funds in a safer, more efficient manner while reducing the need to wait in long lines to pick up checks. We fully expect Higher One to help us accomplish these goals with little disruption to the students' routine making their college experience a more positive one." Higher One's Refund Management services helps schools by streamlining the entire process in which all disbursements are managed electronically and customer service needs are handled directly by Higher One. The schools benefit from the elimination of time-consuming functions, paper checks and errors while realizing significant cost savings. This approach is ideal for institutions as they can take advantage of electronic distribution of payments while not having to occupy their limited resources with additional tasks such as collecting and keeping current student bank account information, protecting student banking information from potential security breaches, handling returned ACH payments, maintaining compliance with the Department of Education regulations surrounding the distribution of Title IV funds, as well as extra customer service needed to support two refund processes. Higher One's service at The State University of New York at Oswego was recognized as a best practice by the SUNY system with the institution reporting more than $45,000 a year in savings. As part of the service, students are able to choose how they receive their refunds including the option to open a Higher One OneAccount, a free FDIC insured checking account linked to a OneCard Debit MasterCard. With these signings, 185 college and university campuses in the U.S. now use Higher One's platform. Since September 2002, Higher One has managed the disbursement of $4.65 billion for its client institutions totaling more than 3 million transactions. In that time period, over two million students, faculty, and staff at these institutions have used Higher One's services through their ID or refund card.

    About Higher One

    Founded in 2000, Higher One provides higher education institutions and

their students with efficient, convenient and easy-to-use solutions to

handle financial disbursements. These include: student refunds, on-campus

and community purchases, payroll and employee expenses, as well as the

collection of payments from students, parents, and sponsors. Higher One

offers a suite of online banking services including the OneAccount, an

FDICinsured checking account, OneCard, a Debit MasterCard(R) and OnePay, a

service that allows electronic collection of tuition and fee payments.

Higher One was recently ranked # 12 on Entrepreneur Magazine's 2008 Hot 100

List. Higher One is based in New Haven, CT.

Media Contacts: Kelly Rohrs / Melissa Kanter Edelman 212.819.4852 / 212.704.8261 [email protected] / [email protected]

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