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LETU to Use HigherOne Debit Cards for Student Loans, Refunds


LeTourneau University is making refunds from student loans easier for students to access by putting their refunds onto a debit card instead of issuing refund checks.

LETU is partnering with HigherOne, a nationwide financial services company to provide refund management and payment services to higher education institutions through this card-based solution.

"We are partnering with HigherOne because they provide faster electronic options for receiving financial aid disbursements and other refunds, and to give the students more choices," says Director of Traditional Student Accounts Sharron Westbrook. "In addition, it allows parents and others directly to make deposits or transfer funds to their student's account. Higher One also allows administrators more time to focus on other student initiatives."

Starting in May 2010, during the first summer semester, students will receive an Easy Refund Card that gives them immediate access to their OneAccount. The OneAccount is equipped with a budget calculator, text message alerts and more benefits, including the MasterCard® Zero Liability policy that protects them from fraudulent purchases made with their cards. Students will have faster access to money with direct deposit and e-check features with online banking 24 hours a day, 7 days a week.

With HigherOne's "Send Money" feature, family and friends can send money directly into a student's OneAccount faster and more securely than sending money through the mail. Students will have access to withdraw funds from the HigherOne ATM located on the first floor of the LETU Memorial Student Center. The Easy Refund Card is a debit card and can be used at all merchants that accept debit cards, including the LETU Corner Café, the LETU Bookstore, coffee shop, as well as at local retailers service stations, fast food places and a multitude of other merchants.

For more information about HigherOne, the Easy Reward Card and the OneAccount, go to www.HigherOne.com.

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