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Beginning spring 2012, all registered students will receive a HigherOne card in the mail. Do not throw the card away. You will need it to select a financial aid or student payroll disbursement option.

FAQs

Your disbursement options

Once you receive the card, you have three options to select how you wish to receive your financial aid or student payroll disbursement. You must choose one:

  1. Transfer to your existing bank account
    You may request to electronically deposit your financial aid disbursement or your student payroll to your existing bank account. Visit the Metropolitan State card site when you receive the card to activate your account and select to have your financial aid or student payroll disbursement transferred.

    If you choose this option, your refund will be deposited in your bank account after Metropolitan State sends the funds to Higher One--typically 2-3 days after the posted disbursement date.

    There is no charge for receiving your refund this way. You will have to complete, print and mail an Automated Clearinghouse Transfer (ACH) form.
  2. Paper check
    You may request to have your financial aid refund disbursement issued in a paper check. Visit the Metropolitan State card site when you receive the card to activate your account and select to have your refund disbursement issued as a paper check.

    Checks are mailed to your address on file in eServices after Metropolitan State sends the funds to Higher One. It is important that you update your address to avoid delays in receiving your check.

    There is no charge for receiving your disbursement or student payroll this way, although it will take longer for the check to arrive at your address.
  3. One Account
    The One Account is a checking account that you open with HigherOne and linked to your Metropolitan State debit MasterCard. If you select the One Account, you will be able to use your card to make purchases anywhere that MasterCard is accepted and to get cash out of Higher One ATM machines (note that it is NOT a credit card--it's a debit card, backed by the purchasing power of MasterCard). Visit the Metropolitan State card site when you receive the card to activate your account and select the One Account.

    If you choose this option, your disbursement is available the following business day after Metropolitan State sends the funds to Higher One. Financial aid disbursements are usually available the third week of each semester for students that have an active award and are in good academic standing.

    There may be fees associate with the One Account, including PIN based transaction fees. To avoid a debit fee, use the "swipe and sign" method when making purchases: swipe your card, select the "credit" option and sign your receipt.

    Please review the Higher One Fee Schedules to learn more about potential fees associated with the One Account and its services.

    With the One Account you also have the option of various mobile banking features.

    You are not required to select the One Account to receive your financial aid refund. You only have to open the One Account if you wish to have your refund on your Metropolitan State card.
  4. Choose not to activate HigherOne account
    If you are unable to make your refund preference online or choose not to make a refund selection, please note that you may request a check for immediate pick-up specifically at the Metropolitan State University Financial Management Office during normal business hours.

    If you are unable or choose not to make your refund preference online or choose not to request a check at the location listed above by day 14, a check will be automatically mailed to you within 7 days in accordance with U.S. Department of Education regulations. Remember, making a delivery preference now online will allow you to select a choice and may provide you with access to your funds faster.

More questions? Review FAQs in Ask Us!



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