“The results of implementing this service have been dramatic. We have observed a significant reduction in student traffic to the business office during refund periods,” explained Margaret Lloyd, director of student accounts at Oswego. “We have been able to drastically improve customer service as a result of eliminating time consuming tasks such as printing and reconciling large check runs.”

“In doing our research, we found Higher One’s OneDisburse Refund Management to be the most reliable, convenient and student-focused service available for the management of refund disbursements to our student body,” said Nicholas Lyons, vice president for administration and finance at the University. “Using this program, we can efficiently manage this important business process and simultaneously provide improved services and convenience to our students.”

In order to distribute refunds Oswego sends Higher One a flat file with the names of each student scheduled to receive a refund along with the amount for that refund. Additionally the University sends Higher One a wire for the total amount of the disbursement.

Students receive their refund after choosing one of three different refund methods: Direct deposit to a no monthly fee, no minimum balance, FDIC-Insured, checking account provided by Higher One, an ACH to another bank account of the student’s choice, or a paper check mailed to the address on file.