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41 new campuses partner with Higher One to cut costs and improve student services in the second quarter

More than 2 million students on campuses around the country benefit from faster refund distribution

New Haven, CT-August 3, 2009-Higher One, a financial services company serving higher education, added 41 additional colleges and universities to the growing list of clients using Higher One’s OneDisburse® Refund Management®.

Higher One’s OneDisburse Refund Management program helps institutions streamline the internal refund process by eliminating the time consuming functions associated with paper check refund distribution or building an internally managed direct deposit (ACH) program. OneDisburse allows schools to offer multiple electronic methods of refund disbursement to their students; reducing the time it takes the payment to reach the student and cutting costs for the institution.

We’re very pleased with our growth in the second quarter, which we believe is the result of our continued commitment to provide colleges and universities with a service that improves the student experience and cuts costs,” explained Rob Reach, Senior Vice President of Sales at Higher One.

Among the colleges and universities who partnered with Higher One in the second quarter were Cerritos College (CA), the Houston Community College System, the Kentucky Community and Technical College System, and Ivy Tech Community College.

Higher One currently serves more than 2 million students across the country. Students are provided with increased choice in how each receives refunds from the institution. Students can select to have a refund direct deposited into Higher One’s OneAccount, sent via ACH to another bank account, or receive a paper check in mail. The OneAccount, Higher One’s optional, no monthly fee, FDIC Insured checking account provides students with almost instant access to their refunds once disbursed. Students can sign up to receive Mobile Alerts which enable students to check their account balances from a cell phone or mobile device. Students can also set up automatic alerts to notify them when they have received their refunds or if their account balance has reached a certain amount.

“Our founders built Higher One when they were college students,” said Reach. “As a result, we understand the needs of current students and we take great pride in the service we provide.”

Since September 2002, Higher One has disbursed over $8.1 billion to its client institutions totaling more than 5 million transactions. More than 310 campuses in accross the country are now utilizing Higher One to streamline the disbursement of Financial Aid refunds to their students.

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.

Higher One recently ranked # 79 on the 2009 Fast 500 list of the 500 Fastest Growing Technology Companies in the United States. Higher One is based in New Haven, CT.

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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