|Student Account Holders
|University of Houston-Victoria to speed its distribution of Financial Aid disbursements and refunds|
All four University of Houston System campuses now partner with Higher One
New Haven, CT - June 12, 2009 - Higher One, a financial services and payment company focused exclusively on higher education, announced it has been selected by the University of Houston-Victoria to distribute Financial Aid disbursements and refunds to students. UHV is one of four institutions in the University of Houston System to partner with Higher One.
Higher One currently provides disbursement and Refund Management® services to UHV’s sister campuses: UH, UH-Clear Lake and UH-Downtown. Funds at UHV currently are issued via paper check, and the process can take from 4 to 10 days for the student to receive a check. Aside from being time consuming, the process is also costly for the institution.
As a result of the new partnership, UHV students will receive a co-branded card in the mail with instructions about how to select their refund preference. Each student is asked to log on to a secure website to confirm his email and mailing addresses. In addition, each student will be asked to select how he would like to receive refunds or other disbursements from UHV. Students now will have three options, including two new electronic refund options in addition to the paper check option. Choices include: direct deposit to the OneAccount, an optional, no minimum balance, no monthly fee, FDIC Insured checking account provided by Higher One; ACH transfer to a bank account of the student’s choice; or paper check via U.S. mail. A student can also change refund preferences at any time.
Higher One will train UHV administrators about how to use the new service; market the program to students so they understand their choices; collect, protect and maintain student banking information and refund preferences; distribute refunds based on each student’s refund preference; handle any bounced ACH payments and returned checks; and field any refund-related customer service inquiries from students and staff.
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 more than $7.76 billion in refunds for its clients to more than 2 million students, faculty and staff at more than 310 distinguished public and private higher education institutions throughout the country. Higher One currently works with 41 schools in Texas alone, representing nearly 400,000 students.
Higher One recently ranked No. 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, Conn.
About University of Houston Victoria:
UHV, located in the heart of the Coastal Bend region of Texas, is an upper-level institution that offers undergraduate and graduate students more than 30 degree programs and concentrations in the Schools of Arts & Sciences, Business Administration, Education and Human Development, and Nursing. A faculty of experts at UHV offers students individual attention to help them succeed, whether learning in a classroom or online. UHV is defined more as a delivery system than as a location, as the university extends instruction, learning support, student services and community outreach to any area. Although it serves primarily commuting students from Victoria and surrounding counties, UHV also offers degree programs, in collaboration with other UH System institutions, at two off-campus centers in Fort Bend County and offers courses at a number of off-campus sites in the region. Since its founding in 1973, outreach, community partnerships and collaboration have characterized UHV’s history and mission.