Sallie Mae Campus Solutions is now part of the
Higher One Suite of Solutions and Services
New information for Campus Solutions clients:
Since Higher One acquired Sallie Mae’s Campus Solutions division in May, there’s been a lot of speculation about how that acquisition will impact Campus Solutions clients. The Higher One/Campus Solutions team has been deeply engaged in planning for the integration of the two product suites. The overarching principle for that integration has been Higher One’s commitment to make this transition as seamless as possible for our clients. We’re happy to announce our strategy for that transition. If you have a question that is not listed below, please contact your Campus Solutions CRE, Sales Representative, or submit a question electronically using the form found here.
Welcome to Higher One!
Higher One's Chief Service Officer, Casey McGuane, welcomes you to our family!
What exactly is the transition strategy?
Based on your feedback, Higher One has devised a strategy that keeps change to a minimum for NetPay and Tuition Payment Plan clients, while still offering an upgrade path to Higher One’s more comprehensive and integrated product suite when you are ready. We are preparing to move the NetPay and Tuition Payment Plan products onto our CASHNet® platform in summer 2014. We are working to ensure the look and feel of the NetPay and TPP applications on the CASHNet platform will remain the same for both clients and consumers.
As previously communicated, Campus Solutions Refunds clients will be converted to the Refund Management® platform by March 2014.
If I’m interested in upgrading to the CASHNet platform, is that an option?
Of course! We’ll be happy to talk with you about the advantages of moving to the CASHNet platform. The CASHNet suite offers extensive integration with ERP systems, a one-stop site that makes life easier for you and your students by displaying all of a student’s campus accounts online, a comprehensive online marketplace product, an in-person cashiering payments product, and flexible and easy-to-use customization tools that let you determine how your site is configured. In addition, significant investments are planned for the CASHNet suite going forward. We look forward to meeting with you to determine what CASHNet products and services are best for your unique environment and to set up a transition schedule that works for you.
What is the plan for each Campus Solutions product?
Please refer to the chart below for more information on each of the products within the Campus Solutions suite:
What does this mean for my existing refund disbursement platform?
The Higher One founders were the pioneers in refund disbursement services, offering students three ways to receive their refund: immediate direct deposit into a Higher One OneAccount, ACH transfer to any domestic bank account, or a paper check via mail. By transferring to our Refund Management platform, we can offer you more extensive features and benefits than the MyFlexCard, with more competitive pricing. We recommend a call with a Higher One representative to help answer your questions regarding our Refund Management Services.
What is the wind-down process for the existing debit card product?
Current Sallie Mae No Fee Student Checking/Sallie Mae Prepaid MasterCard account holders will receive a series of communications to notify them when their accounts will be closed and steps to take in preparation for that process.
- Students that have a direct deposit set up on their account will receive notice of account closing 60 days prior to close date.
- All account holders (including those with a direct deposit) will receive notice of account closing 30 days prior to close date.
- All account holders will receive notification that account has been closed and any remaining balances will be received via check within 2 weeks.
How does this affect student choice?
The Refund Management service provides three choices for students: direct deposit to the OneAccount suite, ACH to any domestic bank account or a check in the mail. We would be happy to schedule another conversation to start answering your specific questions.
Will my ATMs be affected?
Higher One will work with your school to ensure that you have adequate ATM coverage and remain compliant with Department of Education regulations regarding free access to funds. Higher One recently conducted a sizable upgrade of its entire ATM fleet to modernize the cash dispensing machines at campuses around the country.
How does Higher One address compliance in this new environment?
The Refund Management service is designed to ensure that an institution’s refund disbursement process is fully compliant with all applicable federal regulations, including the Department of Education’s Cash Management and FERPA regulations and banking laws and regulations. Each year, Higher One submits a Compliance Attestation Exam to the Department of Education, which includes an independent audit report conducted by PricewaterhouseCoopers. Also, included in the Refund Management service, Higher One offers OneReview, which is a dedicated resource to help answer ED questions during a review of your program.
What resources are required from the school’s side to transition to Refund Management?
Higher One offers a team of highly qualified and experienced project managers to walk you through the process step by step. We ask that you designate a coordinator from your administration team to work with the Higher One project manager, in addition to a representative from the following areas on campus (if applicable) to assist in the program education of both students and staff: Business Office, Student Services and Financial Aid.
Will our platform change? Or the structure of our payment plans?
The Tuition Payment Plan platform will continue to be supported through the end of academic year 2015. We are preparing to move the system onto our CASHNet platform in October, 2014. We are working to ensure the look and feel of the TPP application will remain the same for both clients and consumers.
How will this impact the rest of academic year 2013/2014?
Academic year 2013/2014 will be complete prior to the migration; as a result we anticipate no impact for this academic year.
Does Higher One have experience with full-service tuition payment plans?
Yes, Higher One currently offers full-service tuition payment plan. Additionally, the experience from the Campus Solutions team that transitioned during the acquisition, combined with the experience from Higher One, provides a wealth of knowledge regarding Tuition Payment Plans.
Does this impact your stance on the regulatory environment, as it pertains to TPP?
We take compliance very seriously and are always reviewing the federal and state laws and regulations applicable to tuition payment plans. We will continue to incorporate any updates required by applicable laws and regulations.
Are we rebranding to the Higher One name?
Yes. A new timeline around the rebranding will be provided later this fall. Following that announcement, we will supply a branding guide to help you understand and support the plan as we move forward.
Will our product change?
NetPay will continue to be supported through the end of academic year 2014. We are preparing to move the system onto our CASHNet platform in June, 2014. We are working to ensure the look and feel of the NetPay application will remain the same for both clients and consumers. Report and input and output file formats will also stay the same. The primary change clients will experience is in new URLs for the sites.
Will this impact 1098-T peak season 2013?
NetPay’s 1098-T services will be offered to existing NetPay 1098-T clients for 2013 just as they have been in previous years. Watch for communications on timelines to be sent as soon as IRS guidelines are released.
Why did Higher One purchase Campus Solutions?
Higher One is a leader in financial aid refund disbursement and payment solutions. The acquisition of Campus Solutions allows us to offer you our industry-leading solutions, while continuing the service you have been receiving from your Campus Solutions team. We currently partner with over 1,600 campuses to reduce their administrative expenses and provide affordable financial services to students.
Does this change my client relations contact?
You will continue to be supported by your existing Client Relationship Executive (CRE) or Campus Solutions support team. We expect to integrate our client service teams as we transition and remain committed to providing you great support. We will continue to communicate to you throughout the process.
I also work with Higher One on other products; who should I contact for support moving forward?
Please continue to reach out to your assigned CRE for Campus Solutions or Relationship Manager for Higher One as appropriate for ongoing support unless you hear otherwise.
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