FOR IMMEDIATE RELEASE

HIGHER ONE OFFERS ‘ADDED FUNCTIONALITY’

THROUGH NEW FINANCIAL AID FEATURES ON PROGRAM WEB SITES

Added Features Allow Students to Better Manage Their Refunds

NEW HAVEN, CT, September 8, 2005 – Higher One has added additional refund management features to their OneDisburse application.  The additional web features will help students keep track of their refund preference history as well as their actual refund status and disbursement history. 

“The features are just another way for Higher One to strengthen our commitment to the students that use our services,” said Sean Glass, Higher One Co-Founder and Chief Marketing Officer.    “We have been committed to building convenient, student focused features that help students manage their finances.  These new features continue that commitment..”

As the Company was founded by three undergrads who understood the need to shorten the time it took for students to have access to their funds, Higher One understands the needs and concerns of students.  Higher One’s features focus on providing convenience for students. Features such as FREE Debit MasterCard transactions, fast Easy Refunds, FREE person to person send money transactions, Campus Autoload for transfers to an on-campus flex account and more provide students with a low cost, convenient, and student focused way to manage their finances.  “

Higher One has been providing Refund Management services to colleges and universities across the US since 2002. Higher One’s program at Sam HoustonState University in Huntsville, TX generated $240,000 in net cost avoidance in the first semester alone, and after subtracting the initial costs of establishing a card office – produced about $400,000 in gross cost avoidance for the year. The State University of West Georgia and Kennesaw State University have both documented substantial, measurable impacts on the institutional operations and were presented with the “2004 Best Practices Award” for their implementation of Higher One’s Refund Management service by the State University System of Georgia Board of Regents.

More than 31 Colleges and Universities across the country have signed with Higher One to use the company’s Refund Management Services.  Since September 2002, Higher One has helped its clients disburse almost $700 Million dollars through more than 475,000 individual payments.

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About Higher One

Focused exclusively on higher education, Higher One provides refund management services to higher education institutions and banking services to members of their community through a card based solution. Higher One's integrated solution helps universities reduce administrative costs, streamline business processes, create new revenue streams, increase student customer service and strengthen the campus community. Higher One's refund service, OneDisburse, provides students with more choices and better service for receiving financial refunds. Higher One also offers a suite of banking services called OneFinance, which includes the OneAccount, a no minimum balance, no monthly fee checking account, the OneCard, a Debit MasterCard® card for ATM withdrawals purchases, and exclusive features such as "Send Money", Easy Refund, and Campus AutoLoad for stored value programs.  The OneFinance and OneDisburse solutions can be integrated with the institution's ID card or provided through a separate "refund only" card.

To date, Higher One has disbursed half a Billion dollars in refunds for its university clients. More than 250,000 students, faculty, and staff at distinguished public and private universities use Higher One's services through their ID or refund card. www.higherone.com.

For more information visit www.higherone.com. Banking services are provided through an agreement with Horizon Capital Bank, member FDIC.