Higher One, a New Haven, Conn.-based financial services and payment company focused on higher education, says it has been selected by Butler County Community College in Pennsylvania to streamline and speed up the refund distribution process at the school.
“In meeting with both finance staff members and financial aid administrators, it became apparent that the college needed to invest institutional resources in the purchase of a system that would enable the college to disburse student refunds electronically,” explained James Hrabosky, Butler’s vice president of finance and administration. “The current system of manually printing checks was very cumbersome, costly in terms of both supplies and labor hours, and most importantly, not very convenient to our students who needed immediate access to funds to pay for necessary school supplies, books and living expenses.”
Butler administrators decided to partner with Higher One as a result of positive feedback they received from other Pennsylvania colleges.
Students will have a choice of up to three different ways to receive a financial aid refund from the College: direct deposit to the OneAccount, a no minimum balance, no monthly fee, FDIC-Insured checking account provided by Higher One, an ACH transfer to another bank account, or a paper check mailed to an address on file.
Higher One has issued over $4.65 billion in refunds to more than 2 million college students since the company’s inception. This experience in addition to the fact that Higher One is focused exclusively on colleges and universities separated Higher One’s OneDisburse Refund Management from other ways to distribute refunds.
Students will be able to receive their refunds faster beginning this fall when BC3 issues refunds through Higher One for the first time.