Madonna University signs on to use Higher One's OneDisburse refund management service

Higher One's Refund Management disbursement service is the Most Efficient, Student-centric and Cost-effective Way of Making Payments to Students

NEW HAVEN, CT, February, 2006 - Higher One, a leading provider of customized financial services dedicated exclusively to the higher education market, today announced Madonna University has signed on to use Higher One's OneDisburse^® Refund Management. Madonna University is the fifth school in Michigan to sign on with Higher One.

"We are very excited about implementing Higher One's Refund Management disbursement service," said Len Wilhelm, Vice President for Finance and Operations, Madonna University. "Not only will this new service provide numerous benefits to our administration, freeing up time for more student-focused projects, this service will also be a huge benefit to our students, as they will receive their money in a much more timely fashion."

Madonna University plans to implement Higher One's OneDisburse^® Non-ID Refund Management, which will help the university reduce administrative costs, streamline business processes, increase student choice and improve the student experience. Students will have the opportunity to use the OneAccount, a free FDIC insured checking account linked to their OneCard. If students choose to utilize this option their Madonna University Debit MasterCard can be used worldwide everywhere MasterCard is accepted. Madonna University expects to have their program fully implemented by May 2006.

Higher One's OneDisburse^® Refund Management disbursement service is more than just payments; it streamlines the entire disbursement process. OneDisburse includes the handling of all disbursements, customer service, reconciliation and other time consuming functions - eliminating many costs associated with refund delivery for the university and increasing customer service for students. Higher One’s service is the only comprehensive Refund Management available today and features no setup costs, minimum involvement with schools' IT systems, and a unique revenue-sharing benefit for the university. With OneDisburse students can choose any of three options to receive financial aid and other refunds: direct deposit to the free OneAccount checking account, ACH to another bank checking account, or a paper check.

About Higher One

Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements. These include: student refunds, on-campus and community purchases, payroll and employee expenses, as well as the collection of payments from students, parents, and sponsors.

Higher One offers a suite of online banking services including the OneAccount, an FDIC-insured checking account, and OneCard, a Debit MasterCard^®. To date, Higher One has disbursed over $4 billion dollars in refunds for its clients to more than 1,000,000 students, faculty, and staff at distinguished public and private higher education institutions throughout the country.

Higher One recently ranked # 85 on the 2007 Inc. List of the 500 Fastest Growing Companies in the United States. Higher One is based in New Haven, CT.