Wyoming students may see money from a class action litigation filed against Higher One. An initial lawsuit was filed against the Connecticut-based financial service company in 2012 after several schools and individuals filed for settlements.
The lawsuit is now seeking $15 million from Higher One for a settlement according to mlive.com, a Michigan media group. Students around the nation may receive a few dollars from the class action lawsuit because of the wide net lawsuits of the sort cast, said Manager of Financial Services Megan Hanneman.
The company is coming to an agreement to settle claims made throughout the past years. It is now referred to as the Higher One OneAccount Multi-District Litigation, said Higher One Public Relations Coordinator Lauren Perry.
Higher One has no press releases concerning the lawsuit on its website. Perry said “further details” cannot be given at this time because the company remains in negotiation and the agreement is not finalized.
“Higher One maintains, and has always maintained, that the claims in the lawsuits are without merit,” said Perry.
The lawsuits filed against the company generally concerned fees that were not apparent to students.
The agreement Higher One has come to, if finalized, will resolve outside litigation against Higher One involving the marketing and usage of its OneAccount suite, Perry said.
“There is a wide net of eligibility,” said Hanneman. “Everyone’s individual preference on how they receive their credit balance refund can be one of the three options offered.”
If the students used the debit card option and used the card in the unique way that fits the details of the litigation, they could see money. Hanneman said it depends on the unique situation.
Assistant Manager of Financial Services Aaron Courtney said that the relationship between UW and Higher One continues to be building. He said any issues they have had have been easily solved with a simple phone call and within a couple of hours.
UW started doing business with Higher One at request from the students, said Hanneman. Students persistently asked if there was a way to receive their credit balance refund via direct deposit into an existing bank account. UW already used cashier software owned by Higher One before using the refund services. Hanneman said after researching other options, Higher One would be the most efficient and the easiest integrations. Other options included prepaid cards that had tricky fees and no FDIC backing.
“They help us where they see fit,” said Courtney. “They have been increasing their customer service.”
Courtney said that when the Classroom Building Higher One ATM was vandalized they added an additional ATM to the campus and refunded service fees to students that had to use outside outlets while the vandalized ATM was repaired.
“Higher One provides us with training,” said Courtney. “If a student comes in that has a problem we can usually help them solve it quickly.”
Hanneman said if students do receive money from the lawsuit, her office would likely not be notified since specific limited students will be affected. If they are notified, it will be at the same time the students are.
“Higher One has entered into this agreement in principle solely to avoid a lengthy and costly litigation process and to minimize business disruption in offering its valued services to students and institutions of higher education,” said Perry.
