Quicker financial aid refund option coming for Southeastern students
by: Rene Abadie
HAMMOND – Southeastern Louisiana University students receiving financial aid refunds will soon have the option of getting those funds quickly through an easy-to-use debit card program.
The new program is designed provide better services for the university's students, allowing them faster access to refunds they are due, university officials said.
Through an arrangement with Higher One, a higher education refund management system, the My Lion Card Program will also save time and money for the university's administrative staff. The account can also be used for general banking purposes, such as online bill payment, deposits and purchases.
University Controller Nettie Burchfield said in the past students had to wait while refunds were processed and sent to students by check or direct deposit.
"The switch to Higher One's services gives students more choices and quicker access to their money," Burchfield said. "The company also offers a variety of accounts designed just for college students."
She said students will still be able to set up a direct deposit to their personal bank account or receive refunds by check if that is their preference.
"The My Lion Card Program through Higher One makes their funds immediately available since it eliminates the processing time," she explained. "It also saves the university time and money that would be used processing checks."
Burchfield said the cards will be mailed to students at their current mailing address during the last week of September. She urged them to check their records before then through their LeoNet account to ensure the university has their correct address through their LeoNet account. After receiving the card, students can activate their accounts immediately by registering through mylioncard.com and indicating how they want to receive any refunds from the university.
There are no service charges to students using the card for general banking purposes. Southeastern will maintain Higher One ATM machines in the library and the Financial Aid building on north campus. An additional ATM machine will be placed in the Student Union once the new addition is completed.
The Higher One system allows students to scan and deposit outside checks to their account through the Higher One mobile app. Burchfield said students can also mail forms and make deposits to their account by using a mail receptacle in the Controller's Office at no charge. The mail will be picked up every weekday and mailed overnight to Higher One.
"Higher One has an excellent customer service reputation and record with other institutions that use them, and this was a major factor in our selection of their services," Burchfield said. "The company was started by three college students who believed they could develop a better way to help students receive and manage money."
Founded in 2000, Higher One serves 1,600 colleges and universities throughout the nation with 13 million students using the Higher One card.
Questions about using the card should be directed to Assistant Controller Charles Cambre at 985-549-2068 or by email to email@example.com.