EDISON COLLEGE SIGNS ON TO USE HIGHER ONE'S ONEDISBURSE® REFUND MANAGEMENT TO IMPROVE STUDENT SERVICES

72 Higher Education Institutions Now Using Higher One's Services Enabling Students to Receive Money Faster And With More Refund Choices

New Haven, CT – June 2007 - Higher One, a technology-driven financial services company serving higher education, announced today that Edison College, located in Fort Meyers, Florida, has signed an agreement to implement Higher One's OneDisburse® Refund ManagementSM, improving the disbursement of refunds to its students. Edison College will begin using the service effective July of this year.

"Edison College is always looking for ways to better serve our students, and the new refund management program from Higher One does just that," said Gina Doeble, Edison College District Director of Finance and Accounting. "Through our partnership with Higher One, our students now have three ways to receive their refunds, and the new system is faster and more convenient for them."

Higher One's OneDisburse Refund Management streamlines the entire disbursement process in which all disbursements and reconciliation are managed electronically and customer service needs are handled directly by Higher One. As a result, Edison College will benefit from the elimination of time-consuming functions, paper checks and errors while realizing significant cost savings throughout the organization. As part of the service, students will also be able to choose how they receive their refunds including the option to open a HigherOne OneAccount^SM, a free FDIC-insured checking account linked to a OneCard debit MasterCard®, known to the Edison College community as the Edison OneCard.

"We are pleased to be providing Edison College with a program that offers significant cost savings for the institution as well as more choices for students," said Dean Hatton, President & CEO, Higher One. "The higher education community is quickly embracing solutions such as Higher One's OneDisburse as colleges and universities nationwide look to improve their student services and decrease administrative costs."

With this signing, 72 colleges and universities in the U.S. have now signed on to use Higher One's services. Since September 2002, Higher One has managed more than 1.6 million transactions totaling $2.2 billion in disbursements for its client institutions. In that time period more than one million students, faculty, and staff at these institutions have used Higher One's services through their ID or refund card.

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.

About Edison College

Edison College is a bachelor's-degree-granting community college with campuses and service centers in five counties. More than 15,000 students attend Edison college each year, earning two- and four-year degrees and certifications. Founded in 1962, Edison is the longest-established institution of higher education in southwest Florida and is dedicated to providing access to a college degree for anyone who wants one. In addition, Edison provides cultural resources for the community as well as partnerships with numerous educational, business, industry, and government institutions.

Media Contacts:
Melissa Kanter
Edelman
212.704.8261
Melissa.kanter@edelman.com

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