Financial services provider Higher One will be providing refund distribution services for the Dallas County Community College District in Texas that includes seven institutions and 65,000 students.
Members of the district include Brookhaven College, Farmers Branch; Cedar Valley College, Lancaster; Eastfield College, Mesquite; El Centro College, Dallas; Mountain View College, Dallas; North Lake College, Irving, and Richland College, Dallas, along with its virtual campus, the Dallas TeleCollege, which provides distance learning.
The district had distributed financial aid refunds either electronically or by paper check. Although the program has been successful, the district wanted a different refund distribution system to get money into the hands of its students quicker.
District Vice Chancellor Kim Green said the change “eliminates the need for us to store sensitive banking information on the district’s systems, which we believe is a clear advantage to both the district and our students.” Other advantages included students being able to receive discounts on some merchandise, the ability for family members to add money to students’ accounts and a faster transfer of funds to those accounts.
Under Higher One’s program, district students will receive cards in the mail, beginning in mid-April, that they must have in order to select their refund/disbursement preference. Each student will use the card to sign on to a secure website and then select how he or she would like to receive a refund/disbursement, such as direct deposit to a Higher One checking account, known as the OneAccount.
The district will begin sending refunds and other disbursements to students through Higher One starting in May.