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Tulsa Community College Goes Green with OneDisburse® Refund Management®

TCC administrators say they need to make an effort to create a “greener” college environment

New Haven, CT – July 29, 2010 - Higher One®, the technology and payment services company focused on higher education, has partnered with Tulsa Community College in Oklahoma to help switch from paper check refunds to electronically distribute Financial Aid and other refund disbursements to students.

Previously, refunds to Tulsa Community College students have been exclusively disbursed as paper checks. TCC administration have begun a major movement to create a “greener” campus and decided they needed to find a new process to improve environmentally friendly best practices on campus.

As the administration researched new options, they liked that Higher One’s OneDisburse Refund Management program allowed TCC to decrease the use of paper, reduce student’s wait time for their refunds and cut the cost of processing refunds all together.

“Higher One was selected because they have gained a solid reputation among our peer institutions. There are now thirteen colleges and universities in Oklahoma who are partners with Higher One,” says Jan L. Clayton, Associate Vice President for Student Affairs at Tulsa Community College. “As we conducted the search for a vendor to meet our needs, Higher One offered the services we needed at a reasonable cost.”

An internally managed Automated Clearing House (ACH) program was not an option because of the limited customer service it would provide to students. “Higher One offered us more and better options to serve our students than we could offer through an internally managed program. They are able to provide students with 24/7 online access to account information, and they utilize text messaging and instant emails to alert students when refunds are available,” says Clayton.

The new refund program will give multiple options to students, including direct deposit to the OneAccount—an optional, no minimum balance, no monthly fee, FDIC Insured checking account provided by Higher One; or an ACH Transfer to a bank account of their choice. Students will be sent a card in the mail with instructions on how to log onto a secure website to select how they would like to receive their refunds.

When it comes time for disbursements to be made, a flat file is sent from TCC to Higher One which includes student names and the total amount of each refund. An accompanying wire is also routed for the amount of the total disbursement. Higher One then disburses the refunds to each student based on how he or she chose to receive it.

“We expect that Higher One will enable us to provide our students much faster refunds, along with a number of other financial services that they previously might not have had at their disposal; such as a free checking account, ATM use, the ability to transfer funds expeditiously, access to online financial tools and educational materials on money management. Along with better student services, we are excited that TCC will become greener,” says Jeff Nevins, Vice President and Chief Financial Officer at TCC.

 

About Higher One:

Founded in 2000, Higher One (NYSE: ONE) is the leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.

Higher One provides its services to distinguished public and private higher education institutions throughout the country that have a total enrollment of more than 4.6 million students. More information about Higher One can be found at HigherOne.com

 

About Tulsa Community College:

TCC is one of the most comprehensive community colleges in the nation and ranks 24th in the number of graduates.  Serving 35,000 students annually in credit and continuing education classes, TCC is the state's largest two-year college with four campuses in the Tulsa area. For more information on TCC, go to www.tulsacc.edu.

 

Media Contacts:

Elissa D’Orazio                                                                       

Edelman                                                                                             

212-642-7787                                                             

elissa.d'orazio@edelman.com

 

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Testimonials

Before Higher One, our students only had one way to get their refunds, and that was by paper check. With Higher One processing refunds for us, it has allowed us to provide more options for our students without having to enter and store student banking information. We also no longer have to handle sorting, stuffing and mailing thousands of checks.Suzanne ClaggettUniversity of West Florida
Higher One’s experience with college students and their focus on serving colleges distinguishes Higher One from all other financial service providers. We really liked the fact that the community college customer base is expanding for Higher One.Carla Chance St. Louis Community College

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