The University of Texas at Tyler has signed an agreement with the financial business company, Higher One, to implement Higher One’s OneDisburse Refund Management system, Gregg Lassen, UT Tyler vice president for business affairs, announced.
The company’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, UT Tyler will benefit from the elimination of time-consuming functions, paper checks and errors while realizing significant cost savings throughout the organization.
UT Tyler will have the ability to begin processing refunds in August.
“UT Tyler is happy to begin a partnership with Higher One in an effort to provide our students with faster, more convenient and better customer service regarding their refunds,” said Sherry Powell, UT Tyler director of student business services. “By providing our students with a choice of three different ways to receive their refunds, we feel confident that OneDisburse Refund Management will improve the refund disbursement process.”
As part of the service, students also will be able to choose how they receive their refunds including the option to open a HigherOne OneAccount, a free FDIC insured checking account linked to a OneCard debit MasterCard®, known to the UT Tyler community as the Swoop OneCard.
“We are pleased to be providing UT Tyler with a program that offers significant cost savings for the institution as well as more choices for students,” said Dean Hatton, Higher One president and CEO. “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, 74 colleges and universities in the U.S. have now signed on to use Higher One’s services. Since September 2002, Higher One has managed the disbursement of $2.2 billion for its client institutions totaling more than 1.6 million transactions.
Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements including student refunds, on-campus and community purchases and payroll and employee expenses.
The company also offers a suite of online banking services through OneFinanceSM, which includes the OneAccount, a free checking account and OneCard, a Debit MasterCard with exclusive features such as “Send Money,” Easy RefundSM, and Campus AutoLoad.
One of the 15 campuses of the UT System, UT Tyler offers excellence in teaching, research, artistic performance and community service. More than 70 undergraduate and graduate degrees are available at UT Tyler, which has an enrollment of nearly 6,000 high-ability students at its campuses in Tyler, Longview and Palestine.