2008 Woodie Awards
Higher One adds new refund features
By: Bryan Coplin
Issue date: 10/4/07 Section: News
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Despite some initial kinks, Higher One has added new features to ease the identity verification process and facilitate student refund accessibility. Higher One, the refund management company that handles Webster University student refunds, was implemented last semester.
Higher One is not a bank, though it is Federal Deposit Insurance Corporation insured, said Vickie Frederick, associate vice president of finance. Higher One is currently backed by Frost Bank, based in Texas. Higher One is working on fulfilling the requirements to qualify as a bank.
Not all students who have dealt with Higher One have found it easy to navigate. Bailey Barrett, a senior English creative writing major, initially heard about Higher One as a member of the Student Government Association last year and thought it sounded like a good idea. After her own refund had been processed, however, there was a several week period where she was unable to access her refund money due to security measures that Higher One has in place. Refunds put on the Webster Debit Card require students' identity to be verified through a government issued photo ID, such as a driver's license.
"(Higher One) waited several weeks after receiving my funds to verify my identity. I almost lost my apartment over that bullshit," said Barrett, who had planned to use her refund to put a deposit on an off-campus apartment.
Identity verification is required by parts of the Patriot Act, said Chris LaConte, a student liaison with Higher One. The funds are put on hold if the student has not verified his or her identity within 30 days after a refund has been put into a One Account.
"Generally, refunds are done without delay," LaConte said.
To speed up the process, Higher One now allows students to verify their identity online. This feature was added over the summer.
"Probably 98 percent of (refunds processing) were smooth sailing (last spring)," Bursar Janice Neal said.
Pat Simons, accounting assistant, is in charge of performing the manual refunds for all of Webster University's U.S. campuses, along with fellow accounting assistant Judy Helfrich.
Higher One is not a bank, though it is Federal Deposit Insurance Corporation insured, said Vickie Frederick, associate vice president of finance. Higher One is currently backed by Frost Bank, based in Texas. Higher One is working on fulfilling the requirements to qualify as a bank.
Not all students who have dealt with Higher One have found it easy to navigate. Bailey Barrett, a senior English creative writing major, initially heard about Higher One as a member of the Student Government Association last year and thought it sounded like a good idea. After her own refund had been processed, however, there was a several week period where she was unable to access her refund money due to security measures that Higher One has in place. Refunds put on the Webster Debit Card require students' identity to be verified through a government issued photo ID, such as a driver's license.
"(Higher One) waited several weeks after receiving my funds to verify my identity. I almost lost my apartment over that bullshit," said Barrett, who had planned to use her refund to put a deposit on an off-campus apartment.
Identity verification is required by parts of the Patriot Act, said Chris LaConte, a student liaison with Higher One. The funds are put on hold if the student has not verified his or her identity within 30 days after a refund has been put into a One Account.
"Generally, refunds are done without delay," LaConte said.
To speed up the process, Higher One now allows students to verify their identity online. This feature was added over the summer.
"Probably 98 percent of (refunds processing) were smooth sailing (last spring)," Bursar Janice Neal said.
Pat Simons, accounting assistant, is in charge of performing the manual refunds for all of Webster University's U.S. campuses, along with fellow accounting assistant Judy Helfrich.
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