Higher One, a technology and payment services company focused on higher education, is pleased to announce the award recipients of its first Financial Literacy Counts grant program. College students are seeking basic financial management knowledge, according to a recent study conducted by Higher One among 5,488 students nationwide. To act upon these findings, Higher One launched the Financial Literacy Counts grant program, giving schools the opportunity to receive funding for student awareness campaigns, workshops, online financial literacy tools and other activities and resources that promote financial literacy and provide opportunities for students to increase their personal financial management skills and abilities.

The Financial Literacy Counts grant was open to all non-profit, accredited institutions of higher education across the country. Over 80 applications representing 36 states were received from an array of four-year and two-year public and private institutions. The eight colleges and universities that have been selected to receive $30,000 in total funding through Financial Literacy Counts include Adams State College, Armstrong Atlantic State University, Jefferson Community and Technical College, Keene State College, Piedmont Community College, Rivier College, University of North Carolina – Pembroke, and The University of North Texas. The proposals were selected based their high levels of student involvement in planning and execution, quality, creativity, and impact on the percentage of undergraduate students on campus.

“We are so grateful to Higher One for this award,” said Dr. Cammie Hunt, Associate Vice Chancellor of Engaged Outreach at University of North Carolina—Pembroke. “These funds will allow us to provide critically needed financial literacy education to our incoming freshman—helping them stay in school and helping us reduce student withdrawal rates due to financial hardship down the road.”

“This grant from Higher One provides the opportunity for Keene State College students to be more active than ever in their financial planning, and in many cases, this will be the first time students have been engaged in their financial success,” said Karen House, Associate Vice President for Finance at Keene State College. “Keene State College places an importance on financial literacy for our students so that they can make wise choices. We are thrilled to grow our program as a result of this grant.”

“The number of creative proposals we received exemplifies higher education’s urgency to provide more responsive and creative financial literacy education opportunities for undergraduates,” said Mary Johnson, Financial Literacy expert at Higher One. “Our partnership with over 700 campuses across the country includes our commitment to aiding administrators in developing real-world, money management programs. This grant can help schools get the jumpstart they need to tackle this much-needed curriculum.”

Higher One believes that students can be financially responsible and, when given the necessary tools, can successfully live within their means. To that end, Higher One offers innovative student banking services based on choice. The company has dedicated resources to financial literacy including its Financial Intelligence online financial literacy course, the One For Your Money blog dedicated to the fundamentals of finances for college students, and soon to come, Higher One will host the Money on My Mind student video contest to engage students’ thoughtfulness about money challenges they face.

Learn more about Higher One’s dedication to strengthening financial literacy among students at OneForYourMoney.com or on Twitter at @MoneyTalkMary or @HigherEdvice.

About Higher One

Higher One Holdings, Inc. (NYSE: ONE) is a leading company focused on helping college business offices manage operations and providing enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases and learn the basics of financial management.

Higher One provides its services to approximately 5.5 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.com.

Copyright Business Wire 2010