an Joaquin Delta College has partnered with technology and payment company Higher One, Inc. to introduce the MySJDCCard for the spring 2012 semester.
The card is a new method of financial aid disbursement that will replace paper checks and simplify the disbursement process.
According to Lauren Perry, Higher One Campus Relations Coordinator, the card is part of the OneDisburse program, which is designed to improve disbursement efficiency and speed.
“The [OneDisburse] program is focused on the backend, to help schools go paperless. [It also] gives students more options and faster access to financial aid,” Perry said.
The card will allow students to either directly deposit financial aid payments into an existing domestic bank account or open a checking account with Higher One.
According to Perry, the One account is FDIC insured and has no fees or minimum balance.
With an active One account, the card functions as a debit card, usable anywhere MasterCard is accepted.
In order to ensure the switch goes smoothly, Perry stressed the importance of students updating address on file at the financial aid office, as well as selecting a refund preference as soon as the card is received.
When asked about the reason behind the switch, Denise C. Donn, Delta College Director of Financial Aid & Veterans Services, wrote in an email it had to do with increased demand, with over 37,000 checks being mailed in the 2009-10 fiscal year.
“The switch will help the financial aid office improve our services to our students, which is our ultimate goal,” she responded.
The new system will also save on postage.
“This service will have a positive impact on the general fund. The OneDisburse Program’s annual cost of $7,500 will be funded from the budgeted postage account. A savings of $15,884 on postage is expected each year,” wrote Donn.