Students at Park Hills, Mo.-based Mineral Area College will be receiving their financial aid refunds faster this year through a prepaid card issued by Central National Bank in Oklahoma.
Sponsored by Heartland Payment Systems, the nation’s fifth largest payments processor, students will now receive a prepaid card instead of a check as has been done in the past. The college will load financial aid refunds to a personalized Discover debit card, giving students a more flexible financial tool to access their refund.
There is no credit associated with the MAC card, and it allows students to make purchases both on and off campus wherever Discover is accepted. There are also no monthly or overdraft fees. A surcharge-free ATM will be placed on campus for students to withdraw cash.
The MAC Card also comes equipped with online bill pay, and can be reloaded in a variety of ways. Students’ payroll may also be loaded to the card.
Another benefit to the new system includes financial literacy training for students. Through the effort of Discover, Heartland and CNB, several web-based -programs are available to educate students about financial choices and responsibilities.