Southern University at New Orleans has partnered with Higher One, the technology and payment services company focused on higher education, to electronically distribute Financial Aid and other refund disbursements to its students.
Currently, refunds are disbursed to students via paper check, making it difficult for both students and campus administration. Students have to wait extended periods of time to receive their refunds and checks must be printed, stuffed and tracked by campus officials – a labor-intensive task.
With Higher One’s OneDisburse refund management system SUNO students will be sent a card in the mail with instructions on how to log onto a secure website. From there students will then be asked to select how they would like to receive their refund from the college, including direct deposit to the OneAccount – an optional, no minimum balance, no monthly fee, FDIC Insured checking account provided by Higher One – or an automated transfer to a bank account of their choice.
When it comes time for disbursements to be made, a file is sent from SUNO to Higher One that that 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.