Campus Cards, College and University Identification and Security

Higher One signs 25+ new contracts, 10 renewals in fourth quarter

Tuesday, March 13, 2012

Higher One announced that it has added more than 25 new schools that will utilize its refund disbursement services and renewed contracts for 10 existing customers during the fourth quarter of 2011. The company now services about 200,000 more students.

The schools will be using the company’s OneDisburse Refund Management funds disbursement service and various modules of its CASHNet suite of payment services. The New Haven, Conn.-based company now serves more than 800 college and university campuses across the U.S.

New and renewed clients include Cleveland State University; Georgia Highlands College; Louisiana Community and technical College System (three colleges); Southern New Hampshire University; State University of New York College at Plattsburgh; University of Akron in Ohio and the University of Bridgeport in Connecticut. [end] 

A study has revealed a clear need for greater and more differentiated financial literacy education in the K-12 environment.

The “Money Matters On Campus” report, now in its second-year, polled some 65,000 first-year college students across the country. In addition to the need for an early financial understanding, survey results indicate that colleges and universities should provide financial education at the onset of a student’s college experience to better ensure that students will make sound financial decisions later on. The study was conducted by Higher One and education technology specialist EverFi.

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Regulatory action is being proposed in the campus-banking sector, with the U.S. Department of Education releasing its first draft of regulations on campus debit cards that will effectively prohibit certain fees, constrain marketing practices and institute transparency regarding the college-card provider relationship.

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Higher One has opened the application process for its annual Financial Literacy Counts grant program. The grant program, which supports campus-based financial literacy education programs and initiatives, is open to any accredited, non-profit college or university in the U.S., with an independent review committee comprised of higher-education administrators selecting the recipients.

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Banking partnerships and financial aid delivery under scrutiny

Zack Martin, Editor, Avisian Publications

In February 2014, the General Accountability Office released a report on debit and prepaid card programs on college campuses, urging the U.S. Congress and Department of Education to take action.

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