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Iowa Western Community College selects OneDisburse® Refund Management® to better serve their students

Partnership will enable IWCC to streamline operations

New Haven, CT - July 10, 2009 - Higher One, a financial services and payment company focused exclusively on higher education, has been selected by Iowa Western Community College, located in Council Bluffs, Iowa, to electronically distribute Financial Aid refund disbursements to students.

Colleges and universities across the country have been challenged to navigate through significant budget cuts. While officials at IWCC realized they would need to look for ways to streamline their refund distribution process, they didn’t want to sacrifice the quality of the customer service their student body had grown accustomed to.

“IWCC issued over 10,000 checks to students last year. Many were handed directly to students and the rest were mailed. Budget cuts necessitated a more cost effective refund process, and we are constantly looking for better ways to serve our students,” explained Eddie Holtz, Manager, Accounts Receivable, Accounts Payable, and Student Accounts at Iowa Western Community College.

With the new partnership with Higher One, IWCC students now have the ability to choose between two electronic methods of receiving their refunds. Each student can select to have his or her refund direct deposited into a OneAccount, Higher One’s optional, no minimum balance, no monthly fee, FDIC Insured checking account, or sent via ACH to another bank account of the students’ choice.

IWCC students will no longer be bothered with standing in long lines on campus to pick up their checks or waiting for uncertain periods of time until their check arrives in the mail. Students will now have the choice to select a method that works best for him or her.

When it comes time to issue refund disbursements, a file is sent from the college to Higher One which includes a list of student names and the amount of each refund disbursement. An accompanying wire is also routed for the amount of the total disbursement. Higher One then distributes the refunds to each student.

Besides the cost savings that IWCC will experience as a result of utilizing OneDisburse Refund Management through Higher One, IWCC students will now receive their refunds faster than before.

“Our expectations are simple - provide a better service to our students while creating efficiency in our office process,” explained Holtz.

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 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.

About Iowa Western Community College:

Iowa Western Community College is accredited by The Higher Learning Commission and offers more than 80 programs of study for students in its seven-county merged area and the Omaha/Council Bluffs metropolitan community. Main campuses are located at Council Bluffs and Clarinda with other centers situated at Atlantic, Harlan, and Shenandoah. Degrees granted include Associate of Arts, Associate of Applied Science, and Associate of Science options. Full-time equivalent enrollment in 2008-2009 was 5,700. Adult and continuing education enrollments exceeded 40,000 during the same period.

Media Contacts:

Kelly Rohrs

Edelman

212.819.4852

kelly.rohrs@edelman.com

Tom Kuhn

Edelman

212.704.4523

tom.kuhn@edelman.com

 
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