Higher One, Inc. promises to help students reach their goal of achieving a degree by providing money management and refund services. But federal regulators say the company misled these students into paying improper fees, opening unneeded accounts through deceptive marketing tactics, and now it must pay $55 million in fines and restitution to harmed consumers. [More]
higher one
Lawmakers Suddenly Care About Those Fee-Laden College Cards That Are Now In The News
By 5.30.12
Earlier today, we told you about the U.S. Public Interest Research Group report on how the growing number of ethically questionable partnerships between U.S. colleges and financial institutions was resulting in millions of college students being pushed toward receiving their financial aid payments on cards costing hundreds of millions of dollars in fees to users each year. The study appears to have gotten the attention of some folks in Washington. [More]
Millions Of College Students Pushed Into Receiving Financial Aid On Fee-Laden Cards
By 5.30.12 — Updated: 1.31.13
The cost of a college education continues to rise at the same time as many schools seek to trim their budgets. This means that a growing number of colleges are turning to financial institutions to handle the distribution of student aid. And that means that students all around the country are receiving their financial aid on cards that end up making money for the bank. [More]
Put That Beer On My Student Loan
By 12.22.10
A card called “Higher One” lets college kids take their student loan and turn it into a debit card they can use to buy pizza, beer, and other learning essentials with. [More]
