2008 Woodie Awards
Higher One equals new low for NT
Kijafa Davis
Issue date: 11/26/08 Section: OPINION
How dare the university enter students into an agreement with a financial institution of which we know nothing about without even bothering to ask our opinion beforehand.
For those that do not know, the university is partnering with Higher One Inc., a financial services company focused entirely on servicing higher education institutions.
Higher One will now be responsible for disbursing financial aid refunds by distributing funds into a Higher One account.
Director of Student Accounting Kayle Godinez told the Daily that students will still have the E-refund or paper check option, but an email sent to students stated that "students will not be able to access their refund money until they have current information on file with Higher One."
News flash to NT: I already have an NT debit card, or at least that is what I was told my freshman year by a Wells Fargo representative.
My current NT debit card acts as a debit card and student ID card. My refund is safely deposited into my account the first week of school every semester, and if I have a question about my account, I can walk to the University Union and talk to a real person.
There are numerous Wells Fargo ATMs located on campus and throughout Denton, and my student loans are even handled by Wells Fargo.
I do not need another bank account.
Wait! What's that you say? Higher One is not a bank but rather a "financial services and payment company?"
Well, I can deposit and withdraw money into a Higher One account (like a bank), incur overdraft and miscellaneous fees (like a bank) and potentially become indebted to Higher One (like a bank). I don't know what Student Accounting is thinking, but that sounds like a bank to me.
In case the University has any question about why others and I are upset about the implementation of the Higher One refund program, let me break it down for you:
1. Respect
If my employer ever forced me to open an account at a specific bank in order to get my paycheck, I would quit. The university not only entered into this agreement without student feedback and support, they did so secretly.
For those that do not know, the university is partnering with Higher One Inc., a financial services company focused entirely on servicing higher education institutions.
Higher One will now be responsible for disbursing financial aid refunds by distributing funds into a Higher One account.
Director of Student Accounting Kayle Godinez told the Daily that students will still have the E-refund or paper check option, but an email sent to students stated that "students will not be able to access their refund money until they have current information on file with Higher One."
News flash to NT: I already have an NT debit card, or at least that is what I was told my freshman year by a Wells Fargo representative.
My current NT debit card acts as a debit card and student ID card. My refund is safely deposited into my account the first week of school every semester, and if I have a question about my account, I can walk to the University Union and talk to a real person.
There are numerous Wells Fargo ATMs located on campus and throughout Denton, and my student loans are even handled by Wells Fargo.
I do not need another bank account.
Wait! What's that you say? Higher One is not a bank but rather a "financial services and payment company?"
Well, I can deposit and withdraw money into a Higher One account (like a bank), incur overdraft and miscellaneous fees (like a bank) and potentially become indebted to Higher One (like a bank). I don't know what Student Accounting is thinking, but that sounds like a bank to me.
In case the University has any question about why others and I are upset about the implementation of the Higher One refund program, let me break it down for you:
1. Respect
If my employer ever forced me to open an account at a specific bank in order to get my paycheck, I would quit. The university not only entered into this agreement without student feedback and support, they did so secretly.
Viewing Comments 1 - 10 of 26
Guy
posted 11/26/08 @ 8:39 AM CST
"How dare the university enter students into an agreement with a financial institution of which we know nothing about without even bothering to ask our opinion beforehand. (Continued…)
Kijafa Davis
posted 11/26/08 @ 11:52 AM CST
Students do not have and have had a democratic vote over the policies of UNT departments.
>> That sentence makes no sense.
Student Accounting is located in the ESSC, not the Union. (Continued…)
Concerned Student
posted 11/28/08 @ 7:14 PM CST
While I disagree with some of the points made in the opinion, I agree with the general sentiment. I don't see how adding a level of bureaucracy will make anything more cost effective and efficient. (Continued…)
Concerned Student
posted 11/28/08 @ 7:33 PM CST
A small correction to my previous post, Higher One will charge you fifty cents for using your card as a debit card in a store, not two dollars. It is a significant difference, but the point is still the same. (Continued…)
Adam
posted 11/29/08 @ 9:18 AM CST
You still have the e-refund and check options available to you. You don't have to use the card. As a former student, I would have loved getting my refund on the same day it posted to my account. (Continued…)
ch
posted 11/30/08 @ 1:38 PM CST
Yeah, I'm not giving my bank account information to whoever these people are. I have enough problems with Wells Fargo stealing my money, I don't need to give somebody else the chance to do the same. (Continued…)
Andy
posted 12/02/08 @ 3:04 PM CST
Is it that hard just to print up checks and have them at a will-call desk?
Kijafa Davis
posted 12/02/08 @ 7:45 PM CST
Thanks to all who read my article. I have received numerous emails from students with similar concerns; I even received an email from a concerned parent. (Continued…)
Rafael Godinez
posted 12/03/08 @ 1:34 PM CST
It is amazing to see the uneducated comments made by supposedly "intelligent" students. I am an alumn of NTSU (that's the old name for UNT) and I have worked in higher ed for over 20 years. (Continued…)
RJulioG
RJulioG
posted 12/03/08 @ 1:52 PM CST
I would add one more comment to this discussion. Many community colleges use Higher One to processed disbursements. Those student have no problems with the system. (Continued…)
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