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Press Releases
Higher One Affirms Alignment with NACUBO Student Debit Card Guidelines

Higher One’s Principles and Actions Conform with Higher Ed Association’s Best Practices

[New Haven, CT – December 18, 2012] – Higher One, a leader in providing financial services and data analytics to over 1,250 college and university campuses across the U.S., affirmed its alignment with newly released guidelines for colleges and universities regarding debit card options for students. National Association of College and University Business Officers (NACUBO), a membership organization representing more than 2,500 colleges, universities, and higher education service providers across the country and around the world, issued new guidelines that it developed following a survey of its member institutions in August.

“We applaud NACUBO for identifying guidelines that put students and their interests first when selecting a partner for disbursing financial aid and offering optional banking services,” said Miles Lasater, COO and co-founder of Higher One. “An objective voice has been long awaited and NACUBO is in an authoritative position to provide guidance to college and universities on campus disbursement and banking partnerships. Higher One is pleased to say its practices for financial aid disbursement and banking services conform to NACUBO’s identified best practices.”

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Higher One Announces Cash Back Rewards Program

OneRewards Program Linked To Higher One Checking Accounts Leads the Way With up to 30% Cash Back on Purchases

[New Haven, CT – December 10, 2012]Higher One, a leader in providing financial services and data analytics to over 1,250 college and university campuses across the U.S., announced its new OneRewards cash back rewards program for its checking accounts, offered to college students enrolled at partner colleges and universities across the nation.

With OneRewards, Higher One checking accountholders can receive up to 30% cash back on everyday purchases such as retail and dining—both online and in-store. The OneRewards program will be providing access to over 100,000 merchants in the network including 21 of the 25 top U.S. retailers and 45 of the top 50 online retailers including top brands like Staples.com, BestBuy.com, Kohls.com, and Dell Home.

All current and new Higher One account holders are automatically eligible for and enrolled in the program at no cost. Actual cash back savings by merchants may vary over time. Log in or visit OneRewards.com to see the full list of online and in-store merchants in the OneRewards network.

“In the face of regulatory pressures, some large national banks are terminating their rewards programs. So, we took special care to bring back an improved OneRewards cash back program at this time,” said Miles Lasater, COO and Co-founder of Higher One. “For many of our customers who are enrolled in college and face real day-to-day financial challenges, deep discounts can really work to ease their burden of daily expenses incurred while pursuing a higher education.”

Accountholders are already realizing the benefits of Higher One’s OneRewards program:

“I think the program is simply amazing. Instead of adding to my bills and debt as a college student, cash back rewards helps me get money and save that money,” said Pamela Reed, OneAccount holder at Colorado Technical University.

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Higher One Announces Money on My Mind Contest Winners

Ten students given $4,200 for money management advice for balancing life and coursework

[New Haven, CT – December 5, 2012]Higher One, a leader in providing financial services and data analytics to over 1,250 college and university campuses across the U.S., announced the top winning video submissions for its Money on My Mind contest. Higher One awarded $4,200 for the entries that shared the best advice for overcoming money management challenges while balancing school and non-academic life.

The top three cash prize winners, selected from over 150 entrants, attend Florida-based institutions: Michael Jones, a student at the University of Tampa won the grand prize of $2,000 for writing and performing a rap song of his financial challenges and solutions; first prize designation and $1,000 was awarded to Enamarie Montero, Miami Dade College; and second prize and $500 went to Mark Niedermann, who attends Valencia College.

“The selection committee was impressed with the creativity of Michael’s submission,” stated Mary Johnson, Financial Literacy and Consumer Advocacy expert at Higher One. “He made the topics of budgeting and prioritizing purchases both informative and entertaining, which is no small feat. In addition, the song’s catchy refrain was memorable enough to stay in our heads, so hopefully stuck with students that viewed it.”

Over 150 video submissions recounted how students triumphed over their personal financial challenges, and offered money management advice for new college students.

“Our goal with Money on My Mind is to help students engage and influence their peers positively on the topic of financial literacy directly via social media, and it has proven very effective,” said Johnson. “This year’s winners archived helpful and realistic advice that we look forward to sharing with students across the country.”

A partial list of winners and links to their winning submissions follow. Seven runners-up also received $100 each for their winning entries.

Grand prize and $2,000: Michael Jones, University of Tampa
First prize and $1,000: Enamarie Montero, Miami Dade College
Second price and $500: Mark Niedermann, Valencia College

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Higher One Launches VendorPay for Colleges and Universities

New Higher One e-Payment System Increases Efficiencies by Allowing Campus Accounts Payable to Go 100% Electronic

[New Haven, CT – November 26, 2012] - Higher One, a leader in providing financial services and data analytics to over 1,250 college and university campuses across the U.S., announces the launch of its new service, VendorPay, for institutions of higher education. This new streamlined payment processing system is designed to create significant efficiencies and cost savings in the campus’ Accounts Payable department. VendorPay eliminates paper check disbursements to the campus’ vendors and suppliers and offers those vendors and suppliers an option to receive their payments faster and more predictably. 

VendorPay simplifies Accounts Payable disbursements by streamlining not just the payment process, but also the secure storage of vendor data and payment preferences as well as detailed reporting and data for remittance and reconciliation for both the institution and the vendor.

Higher One’s VendorPay is powered by trusted bank partner, WEX Bank, a subsidiary of WEX Inc. (NYSE: WXS), a leading international provider of physical, digital, and virtual corporate card payment solutions, as well as Boost Payment Solutions, the leading expert in supplier enablement strategies and implementations for business-to-business electronic payment programs. The result is an established solution, tailored for the higher education market.

“VendorPay represents an opportunity for a campus to achieve significant cost savings, which is essential as colleges and universities are forced to navigate a challenging budgetary climate,” said Miles Lasater, COO and co-founder of Higher One. “Higher One is excited to bring its decade of campus know-how in streamlining disbursements to Accounts Payable. We are confident that VendorPay can be a win-win on both ends in terms of speed of delivery of payment, security, and reporting.”

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Testimonials

Before Higher One, our students only had one way to get their refunds, and that was by paper check. With Higher One processing refunds for us, it has allowed us to provide more options for our students without having to enter and store student banking information. We also no longer have to handle sorting, stuffing and mailing thousands of checks.Suzanne ClaggettUniversity of West Florida
Higher One’s experience with college students and their focus on serving colleges distinguishes Higher One from all other financial service providers. We really liked the fact that the community college customer base is expanding for Higher One.Carla Chance St. Louis Community College

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