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Houston Community College to partner with Higher One and increase student and faculty satisfaction

HCC students to receive Financial Aid refund disbursements faster than before

New Haven, CT - July 9, 2009 - Higher One, a financial services and payment company focused exclusively on higher education, has been selected by Houston Community College to electronically distribute Financial Aid refund disbursements to students.

HCC, an institution with over 62,000 students, located in Houston, Texas, joins over 310 institutions of higher education around the country that have turned to Higher One to help them distribute refunds to its student body. To date, Higher One has distributed over $8 billion in refunds, to more than 2 million students across the country.

The arrival of this new service marks a new era in the way refunds are issued at HCC as it will replace the internally managed direct deposit (ACH) program.

“We presently have an in-house ACH program where our IT Department keeps all the banking details provided by the students,” explained Nandy Baldonado, Director of Student Financial Services, at Houston Community College. “It is limited to Financial Aid Students only. We want to cover all students but it is too unmanageable for the Student Financial Services Department and the staff of other departments that have a part in the refund processing. Higher One’s program seems to be the best fit for us.”

With OneDisburse® Refund Management®, HCC students will be sent a co-branded card in the mail directing them to log onto Higher One’s secure website where they will be asked to confirm their primary address and email address. Students will then be asked to select from two electronic options for receiving their refunds from the school. These options include: direct deposit to the OneAccount, Higher One’s optional, no minimum balance, no monthly fee, FDIC Insured checking account or ACH to a bank account of the students choice.

For HCC, this new process is more seamless for the financial office. The college simply will send Higher One a flat file including student names and refund amounts along with an accompanying wire for the total amount to be disbursed.

In addition to the refund disbursement process, Higher One educates the campus community on the program, collects, protects and maintains student bank account information and handles any refund related customer service inquiry from students or staff.

With Higher One’s OneDisburse Refund Management program, HCC will now issue 100% of its refunds electronically, providing students with faster access to their refunds.

“We expect that with Higher One, students will have earlier access to their refund money, and that the regulations may be met when it comes to disbursements of Title IV refunds. We are looking forward to our partnership together,” stated Baldonado.

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 Houston Community College:

HCC is an open-admission, public institution of higher learning whose relevance to Houston and the surrounding areas is reflected in its status as the No. 1 community college in the country for international students. The learning opportunities offered by HCC prepare individuals in our diverse communities with the essential tools for success in an increasingly international and technological society.

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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