- Encourage students to use financial institutions, since those with bank accounts can typically better manage their money, do not have to carry large amounts of cash, and can benefit from the convenience of debit cards and transaction records.
- Offer students the right to choose their banking relationships. Institutions should ensure that students have sufficient information available to allow them to be informed consumers.
- Encourage electronic refunds because electronic transactions are faster, safer, less expensive and more convenient.
- Comply with the U.S. Department of Education’s regulatory and administrative requirements for the Title IV federal student aid programs.
- Negotiate low or no fee options and convenient services for students. Educate students to be informed consumers of financial services, and publish clear and transparent fee schedules. Agree to a communication plan to ensure students are presented with a fair explanation of services.
- Select a financial services partner through a competitive process and engage students in the vendor selection process.
Higher One Affirms Alignment With NACUBO Student Debit Card Guidelines
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