Acquisition Strengthens Higher One’s Payment and Refund Service Capabilities

New Haven, Conn., and Newark, Del. – May 7, 2013 – Higher One Holdings, Inc. (NYSE: ONE) and Sallie Mae (NASDAQ: SLM) today announced that Higher One has acquired Sallie Mae’s Campus Solutions business. Sallie Mae’s Campus Solutions provides business-to-business solutions, including e-commerce and billing payment solutions, refund disbursement services, and tuition payment plan administration, to college and university business offices across the country. Higher One is a leader in providing financial services and data analytics to college and university campuses across the U.S.

Under the terms of the purchase agreement, Higher One acquired substantially all of the assets of the Campus Solutions business in an all-cash transaction valued at approximately $47.25 million.

“Sallie Mae Campus Solutions has been a trusted business partner to institutions,” said Mark Volchek, CEO and co-founder of Higher One. “The Campus Solutions team is talented and possesses a profound knowledge of financial assistance and payment solutions. We are excited to increase the breadth of Higher One’s offerings and expect to continue to bring best practices for refund disbursement services, payment processing services, and data analytics now to more than 1,600 campuses and more than 13 million students nationwide.”

[New Haven, CT, April 10, 2013]—Higher One, a leader in providing services to higher education administrators and students at more than 1,300 campuses across the U.S., has opened the application process for its third annual Financial Literacy Counts grant program, which supports financial literacy programs and initiatives on college and university campuses.

Selected institutions will receive grants totaling between $2,000 and $5,000 each to support student awareness campaigns, workshops, online financial literacy tools and other activities and resources that promote financial literacy and provide opportunities for students to increase their personal financial management skills and abilities.

The U.S. Congress recognizes April as Financial Literacy Month, and the Financial Literacy Counts grant program is an example of Higher One’s continued mission to support financial literacy among college students by providing needed resources and promoting effective initiatives on campuses—Money Matters on Campus, a recent survey of 40,000 college students, found that 79 percent of college students worry about debt.

“Higher One’s engagement with over 10 million college students across the country has strengthened our commitment to develop real-world money management programs with our partner institutions,” said Mary Johnson, Director of Financial Literacy and Student Aid Policy at Higher One. “The Financial Literacy Counts grants help institutions create and implement much needed curricula and programs.”

The Financial Literacy Counts grant program is part of the company’s Higher One CARES (Community Action for Resources Education and Service) initiative, which was formed by employees of the company to identify opportunities for community involvement and engagement.

[New Haven, CT – April 8, 2013] Higher One, a leader in providing financial services and data analytics to over 1,300 college and university campuses across the U.S., today announces that Whitney Stewart has joined Higher One as Vice President of Product Management. Stewart, who will be responsible for the product management and strategy across several Higher One product suites, brings more than 15 years of technology and financial services industry experience to the role.  

Prior to joining Higher One, Stewart was responsible for SunTrust Bank’s Mass Market Consumer Segment strategy as well as the bank’s value added services product organization which includes debit, prepaid, and other consumer financial products. Prior to joining SunTrust, Stewart was responsible for Discover Network’s Brand and Communications organization for Discover Financial Services. She has also held senior management positions at Carreker, Bank of America, eFunds Corporation, and Deluxe Corporation in various Marketing, Product Management, and Business Strategy roles.