Campus Cards, College and University Identification and Security

Higher One agrees with NACUBO student debit card guidelines

Wednesday, December 19, 2012

Higher One has affirmed its alignment with new guidelines for colleges and universities regarding debit card options for students. The National Association of College and University Business Officers issued in August guidelines that it developed following a survey of its member institutions.

The guidelines, entitled “Safeguarding Student Finances: Guidance for Campuses Offering Student Debit Card Options,” are designed to include best practices such as:


  • Encouraging students to use financial institutions, since those with bank accounts can typically better manage their money, do not have to carry large amounts of cash, and can benefit from the convenience of debit cards and transaction records.

  • Offering students the right to choose their banking relationships.

  • Encouraging electronic refunds because electronic transactions are faster, safer, less expensive and more convenient.

  • Complying with the U.S. Department of Education’s regulatory and administrative requirements for the Title IV federal student aid programs.

  • Negotiating low or no fee options and services for students.

  • Publishing clear and transparent fee schedules and agreeing to a communication plan to ensure students are presented with a fair explanation of services.

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A recent US Senate Banking Committee hearing addressed issues that could determine the future of campus card bank partnerships. Though many expected ID cards and aid delivery to be a minor topic in comparison to other Title IV financial aid related issues, it dominated much of the discussion during the hearing titled “Financial Products for Students: Issues and Challenges.”

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Paying for school lunches in Geneva, Ill. is about to be overhauled this coming school year, as district 304 will move to a new web-based lunch debit system.

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Waukesha County Technical College has started its search for a new banking partner to fill its on-campus location.

A 2009 poll conducted at the Waukesha County Technical College found that 69% of students would use an on-campus bank. Now, the school is seeking proposals for a full-service branch on its Pewaukee campus.

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Malta’s Kunsill Studenti Universitarji is ending use of its current smart card system for financial grant delivery and payments, opting instead to transfer grant monies directly to the students’ bank accounts.

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