Refund of Student Credit Balances
The Higher One Refund Card is used to refund credit balances on student accounts. A credit balance may come from payment of grants, scholarships or loans credited to a student's account, overpayment of charges, or adjustments for tuition, fees, or housing.
Don't throw your Higher One MasterCard debit card away. You will need it to activate your refund account with Higher One. Refund preferences include opening a OneAccount checking account or ACH transfer. The OneAccount with Higher One does NOT have the monthly $3.95 fee if the account holder is
- a current student or
- performs a direct deposit of $100 or more per month
Financial aid funds disbursed to a student's account are first credited to the student's educational expenses. Once education expenses are paid in full and if a credit balance remains, the credit balance is refundable to the student.
Refunds are processed within 3 business days of when the student meets eligibility requirements.
Some financial aid requirements are as follows:
- the student's first class has started.
- the student is registered for the number of credit hours for which aid is awarded.
- the student is taking classes for credit. Classes taken as "no credit" are not aid eligible.
- classes taken apply to the student's program of study.