This week, college students will receive federal financial aid refunds. Many will choose to receive those funds on debit cards.
On Wednesday, Ohio Sen. Sherrod Brown expressed concern over the card used by Stark State College and Kent State University at Stark students.
Higher One, a bank that provides services to higher education administrators and students at more than 1,200 campuses across the country, is used by both campuses.
According to Higher One’s website, it offers services such as refunds, payments, electronic billing, and payment plans and works closely with colleges and universities “to ensure students receive financial aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases and learn the basics of financial management.”
The problem, says Brown, is that Higher One has a system of hidden fees that cuts into financial-aid money.
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