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Rogue Community College to distribute Financial Aid refunds electronically

RCC becomes the 5th Institution in Oregon to partner with Higher One

New Haven, CT - September 18, 2009 - Higher One, a financial services and payment company exclusively serving higher education, has been selected by Rogue Community College, located in southern Oregon, to electronically distribute Financial Aid refund disbursements to students.

“Currently at RCC, all refunds and Financial Aid disbursements are handled in-house by college staff. Students can receive their refunds and disbursements only by a paper check mailed to the address on file,” said Lisa Stanton, RCC director of Budget and Finance. “Bad addresses, late and lost checks are common, and the mere presence of a paper check introduces opportunities for fraud.”

RCC issued a request for proposals in early July 2009 for district-wide commerce management services. Responders were asked to address any and all facets of online financial transactions that their company could provide.

“Higher One was selected based upon their positive reputation and what they do compared to other vendors we researched. For example, Higher One does not issue credit cards to students, sell student information or offer any types of lines of credit or loans,” Stanton explained .

With Higher One’s OneDisburse® Refund Management®, RCC students will be sent a card in the mail with instructions on how to log on to a secure website. Students will be asked to confirm their primary email and mailing addresses and select how they would like to receive their refund from the college. Students will be given multiple electronic options including direct deposit to the OneAccount; an optional, no minimum balance, no monthly fee, FDIC Insured checking account provided by Higher One; or an Automated Clearing House (ACH) transfer to a bank account of their choice.

RCC students can sign up to be notified via text message to their mobile phone when they have received a refund. OneAccount holders can also check their account balances via text or by phone at anytime. As a result students can keep better track of their finances.

When it comes time to distribute refunds, RCC simply sends Higher One a list of student names and refund amounts along with a wire for the total amount of the refunds. Higher One will then disburse the refunds to students.

Additionally, Higher One trains students and staff how to use the service; markets the program on campus to educate students on their refund choices; collects, protects and maintains student banking information;distributes refunds based on each students preference; handles any bounced ACH payments or returned checks; fields any refund-related customer service inquires from students and staff; and provides administrators with access to online real-time reporting.

Rogue Community College will begin issuing refunds through Higher One in January 2010.

“We are excited about our new partnership with Higher One,” Stanton said. “We now expect that our students will receive their refunds in a fast and safe manner..”

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 FDIC Insured checking account, and OneCard, a Debit MasterCard®. To date, Higher One has disbursed over $8.1 billion dollars in refunds for its clients to more than 2 Million students, faculty, and staff at over 310 distinguished public and private higher education institutions throughout the country.

About Rogue Community College:

Founded in 1970, Rogue Community College serves more than 19,000 students annually in Jackson and Josephine counties. The college has three campuses: the Redwood Campus in Grants Pass, the Riverside Campus in Medford, and the Table Rock Campus in White City.

RCC provides academic programs and career and technical education, basic skills programs for adults including GED and English as a Second Language, personal enrichment, and continuing education courses. RCC offers five associate degrees and nearly 50 programs in a wide range of careers, from automotive to welding technology, and from art to nursing.

Media Contacts:

Kelly Rohrs

Edelman

212.819.4852

Kelly.rohrs@edelman.com

Melissa Kanter

Edelman

212.704.8261

melissa.kanter@edelman.com

 
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