ST. PETERSBURG COLLEGE SIGNS ON TO USE HIGHER ONE'S ONEDISBURSE® REFUND MANAGEMENT SERVICE TO IMPROVE STUDENT SERVICES AND REDUCE COSTS

Higher One’s Refund Management disbursement service will Enable Students to Receive Their Money Faster with More Refund Choices

St. Petersburg, FL- January, 2007 - St. Petersburg College (SPC) today announced that they have partnered with Higher One, a leading provider of customized financial services dedicated exclusively to the higher education market to improve how refunds are disbursed to their students. SPC will be using Higher One's OneDisburse^® Refund Management. SPC represents one of more than 60 schools to sign on with Higher One.

Higher One continues to experience increasing interest from colleges and universities nationwide as institutions look to improve their student services and decrease administrative costs. As more institutions learn that a solution such as Higher One's OneDisburse exists, they are quickly embracing this solution to better serve their students. Some institutions have also expressed that their interest stemmed from the fact that utilizing Refund Management with an outside vendor helps the institution avoid IT and data security risks.

Prior to Higher One, SPC made disbursements by internally produced paper checks and mailed them to students. SPC plans to implement Higher One's OneDisburse Non ID Refund Management, which will help the college 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 SPC Debit MasterCard can be used worldwide everywhere MasterCard is accepted. Higher One's OneDisburse Refund Management is more than just payments; it offers students more choice and convenience while the school sees a direct cost and time savings.

"Our partnership with Higher One will provide improved service to the students of St. Petersburg College," said Conferlete Carney, Vice President of Information Systems, Business Services, Budgets, and Planning at SPC. "The key to our success will include service quality, accuracy, effective marketing, communications, and a high level of student acceptance of the OneCard."

Higher One's OneDisburse Refund Management includes the handling of all disbursements, customer service, reconciliation and other time consuming functions - eliminating many costs associated with refund delivery for SPC 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 SPC. 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.

"We are happy to be providing St. Petersburg College with a program that offers significant cost savings for the institution as well as more choices for students," said Dean Hatton, President and CEO, Higher One. "Similar to the rest of our Higher Education Clients, I am certain that they will be pleased with the results of our Refund Management."

Leading the trend within higher education, New Haven, CT-based Higher One has become the standard of service for American higher education institutions looking for ways to improve the payment process and student experience. Higher One handles the entire process and manages any associated exceptions or customer service needs.

More than 60 colleges and universities across the country have signed with Higher One to use the company's Refund Management. Since September 2002, Higher One has helped its clients disburse more than $1.5 billion through over half a million individual payments.

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.

ST. PETERSBURG COLLEGE SIGNS ON TO USE HIGHER ONE'S ONEDISBURSE® Refund Management TO IMPROVE STUDENT SERVICES AND REDUCE COSTS

ST. PETERSBURG COLLEGE SIGNS ON TO USE HIGHER ONE'S ONEDISBURSE^® Refund Management TO IMPROVE STUDENT SERVICES AND REDUCE COSTS