Higher One Reaches Corporate Milestone with more than 328,000

College Students Choosing to Use Higher One’s OneAccount

Account Usage Increases by 37% Since January 2007

85 Schools Now Signed On To Use Higher One’s OneDisburse® Refund Management^SM with the addition of Texas A&M, Corpus Christi

New Haven, CT—September  27, 2007—Higher One, a technology-driven financial services company focused on higher education, announced today that it now has more than 328,000 OneAccounts with a balance. In the last year alone, Higher One has increased its account usage by 37%, adding just over 122,000 accounts since January 2007 with more than half of those accounts added since August 2007.

“It is gratifying that more than 328,000 students from around the country have chosen to use for a free Higher One OneAccount. As one of the only companies focused  on developing financial products that meet the needs of college students, we have been able to provide services that are convenient and easy to use,” said Dean Hatton, Chief Executive Officer of Higher One.  “It is this commitment and focus on the higher education industry that has positioned Higher One as one of the fast growing companies in the nation and we are looking forward to our continued growth moving forward.” 

Designed exclusively for college students, the Higher One OneAccount provides students with powerful tools to manage their finances including online bill pay, the ability to send money into another OneAccount, money wires, easily accessible online statements, and the ability to make purchases using the MasterCard® Debit Card which is tied to the account. Students can open this no minimum balance, no monthly fee account when they choose to have either their refunds or paychecks from their college or university direct deposited into the OneAccount. The students benefit from the easy to use online statements that help with financial management responsibility and 24/7 online and secure customer service.

 Higher One also announced today that Texas A&M, Corpus Christi has signed an agreement to utilize Higher One’s OneDisburse® Refund Management^SM  bringing the total number of colleges and universities in the U.S. working with Higher One to 85. The company has grown quickly by helping schools handle financial disbursements electronically making the process more efficient, convenient and easy-to-use. These include student refunds, on-campus and community purchases, and payroll and employee expenses.  To date, Higher One has processed $2.7 billion dollars worth of payments on behalf of the schools that it works with.

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About Higher One

Founded in 2000, Higher One provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements including student refunds, on-campus and community purchases, and payroll and employee expenses.  The company also offers a suite of online banking services through OneFinanceSM, which includes the OneAccount and OneCard, a Debit MasterCard® with exclusive features such as "Send Money", Easy RefundSM, and Campus AutoLoad. Higher One recently ranked # 85 on 2007 Inc. 500 List of Fastest Growing Companies in the United States. The company is based in New Haven, CT.