TAMIU Debit Card Introduces Quick Student Refunds
This summer, Texas A&M International University students began to receive their financial aid refunds instantly through a new and innovative system.
The University and Higher One, a financial service institution based in New Haven, Conn., have formed a partnership that allows students to quickly withdraw their tuition refunds, or remaining financial aid funds, through a debit card instead of waiting for paper checks to arrive by mail. The move is part of a national trend in higher education.
"This new system helps us streamline our refunds through Higher One's OneDisburse Refund Management Service and reduce the burden on our business office," said Joe García, TAMIU's vice president for Finance and Administration, "Our students have faster access to their money and more choices in how they receive it, even for our international students."
Through the TAMIU Debit Card, students can have cash in their hands faster, said Albert Chávez, TAMIU ID System Administrator.
"Before, students had to wait up to five days to get their checks by mail, but now they get their money back on the same day that their refunds are due," Chávez said.
Out of the 1,281 students who have received the TAMIU Debit Card during the University's second summer session this month, 489 have chosen to receive their refunds electronically, Chávez said.
TAMIU is committed to providing prompt service to its students and this new refund method ensures that all students can secure their funds rapidly so that they can apply them to their educational and personal needs, Chávez said.
The card, which works just like any debit card, will be issued to all students and can be used at a Higher One ATM located at the campus' student apartment complex, University Village, or at any ATM off campus.
Sean Glass, founder and chief marketing officer for Higher One, said that with the program, students have more choice in how they receive money from TAMIU and get their refunds faster.
"Students will also be able to choose to use the optional OneAccount that has features designed specifically for students, and helps make it easy for them to control their finances," Glass said.
University office hours are 8 a.m. - 5 p.m. Monday to Friday.
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