Myths about Being a Scam

  • In the United States alone, there are about 18 million college students currently enrolled. For many of these students, going to school means taking out loans. A financial aid refund is money left over after tuition has been paid and is due to the student. These funds are disbursed from the school to the student and are meant for books, rent and other living expenses.

Colleges are responsible for distributing this refund, and dispensing checks takes up employee time and makes for lines at the bursar’s office. In general, it is a great hassle just to get students their money.

That’s why so many colleges have decided to make use of HigherOne, a company that gives students choices on how they can receive their financial aid refund. This company has over 1250 clients across the United States, and yet students are still skeptical, fearing that is a scam because they never see the physical refund check.

The fact of the matter is that HigherOne is accredited by the Better Business Bureau. Per their Website, the BBB accreditation is only awarded after a thorough company background check. Additionally, their standards “include a commitment to make a good faith effort to resolve any consumer complaints.”

Additionally, colleges and universities across the country are excited to present the opportunity to use HigherOne to their students. As per the Website of Liberty University, the card is “a powerful Debit MasterCard┬« accepted at stores worldwide,” and gives students “the convenience of a universally accepted debit card with the budgeting of a checking account.”

Finally, students who are still subject to hearsay of the alleged scam should be aware that they are under no circumstances obligated to take advantage of the service. In the introductory letter they will receive when their refund arrives, they will find instructions on how to have their refund sent to them in check or direct deposit form if desired. The universities and colleges that use this service are merely trying to help their students by eliminating the need to wait in line at the bursar’s office or the fear of losing a check in the mail.

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