New refund policy in effect for Semester II
By Ashley Keihn | Staff Writer
Information has been circulating around the University of Indianapolis campus about the new way students will receive refunds for Semester II, but some students may not completely understand the new process. In short, the university is working through a financial service company called Higher One to make the refund process more efficient and less time consuming.
Students will receive a OneCard, a card much like a debit card, sometime in November. After receiving the card, students can go online to easyrefund.com to select their refund preferences.With three options for payment, students can have their refunds deposited directly to the cards, have a direct deposit to a personal bank account or a paper check can be mailed to the student’s address in five to seven business days.
After the student’s receive their cards the school notifies Higher One as to which students will receive the refunds. The payments are then credited to students’ accounts.
According to UIndy Bursar Nancy Baker, the university chose this method of refund delivery for several reasons including efficiency and cost.
“Students get more choices for payment and can get their money faster,” Baker said. “If students have set up their accounts ahead of time, their refunds will be available to them the first day of classes.”
Baker also said a new ATM will be set up in the Schwitzer Student Center where the OneCards can be used. The new accounts can also be used as regular bank accounts. According to Baker, UIndy student payroll will eventually be paid by this method as well.
The OneCard account has no minimum balance or monthly fee. The cards can be used anywhere that Debit or MasterCard is accepted. If the card is lost, a $20 replacement fee will be charged to the student.
Balances can be checked online at anytime and mobile balance alerts can also be set up as well.
