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SPOKANEFALLS.EDU/COMMUNICATOR
Oct. 11 - Oct. 25, 2012
Higher One pays FDIC fines
Volume 44 | Issue 1
Higher One FDIC Settlement: $11 Million Number of Students Receiving Settlements: 60,000
Sarah Dyer
The Communicator Despite Higher One’s claims of simplified financial aid disbursement and competitive price comparisons with alternate banking options, students around the country remain unconvinced. In fact, news regarding Higher One’s $11 million settlement with the Federal Deposit Insurance Corporation (FDIC) this August has given voice to the concerns of some students who feel that Higher One’s fees are predatory. “Higher One has agreed to provide restitution of approximately $11 million to approximately 60,000 students,” said the FDIC in an Aug. 8 press release. “In addition, the FDIC has imposed civil money penalties of $110,000 for Higher One.” Higher One’s settlement out of court included no admission or denial of liability. However, the FDIC made it plain that the company would be required to change several of its practices regarding nonsufficient funds, including not charging non sufficient fund (NSF) fees to accounts that have had continuous negative balances for more than 60 days, and not charging more than three NSF fees on any single day to a single account. In addition, the FDIC said, “Higher
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Non Sufficient Fund (NSF) Fee: First item: $29 Additional items: $38 Number of Current Class Actions against Higher One: Three Higher One’s profit from fees (2010): $66 Million Bryce Gray | The Communicator
SFCC has only one Higher One financial aid distribution ATM, causing lines of students to form at the beginning of the quarter. One is required not to make misleading or deceptive representations or omissions in its marketing materials or disclosures and to institute a sound compliance management system.” In an official statement posted on Higher One’s website, titled ‘In Response to FDIC’, Higher One CEO Mark Volcheck said, “We believe the relatively low civil money penalty
imposed reflects how seriously we take our commitment to our customers, the degree of the issue, and our level of cooperation with the FDIC. After researching Higher One Lyssa Davis, a student at SFCC, chose not to use the myBigfoot Card, instead opting for an automatic transfer to
Number of students Served By Higher One: Approximately 6.2 Million Source: http://www. fdic.gov/news/news/ press/2012/pr12092. html
FAFSA | Page 2
Domain update causes login confusion Tu Nguyen
The Communicator Students may have noticed problems with their logins on to campus computers, but the change from “@stu” to “@bigfoot” is intended to benefit students attending any of the Community Colleges of Spokane (CCS) campuses. On Sept. 17, school web portal myBigfoot altered its login system in order to connect the different CCS websites and smooth transitions between them. Now their username shares an “@bigfoot” extension, and passwords were reset to their SID. The change itself came upon many students as sudden, with the schools default backgrounds still instructing the “@stu” extension. “The change made students confused about what to do to login,” said SFCC Librarian Jan Wingenroth. “I don’t think students were notified well enough that they needed to change their password or how to change it.” The myBigfoot site itself is used by students in order to register for classes, manage their information, and login to campus computers. Before the change, each student at each Bigfoot | Page 2
American Honors College takes root at SFCC Student program brings advanced classes to SFCC that promise to increase transfers to 4 year institutions. Corbin Bronsch
The Communicator New American Honors builds connections between four-year universities and CCS students. In partnership with SFCC and SCC, the American Honors program will allow admitted students to learn at an honors level and be better prepared to transfer into a fouryear university. “We’re building a national network between community colleges and four-year transfer universities
that will offer students more opportunities for transferring than (they) may have thought possible,” said American Honors adviser Brittney Snitch. “With the support of advisors from both CCS and American Honors, students will develop a strong academic plan, have the time to determine the best transfer schools for them, explore relevant grant and scholarship opportunities, and take on leadership opportunities within the American Honors and CCS community.” The American Honors advisers are strictly committed to the few students in their program, and will also have the time to meet with
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New lounge seats American Honors students between classes, providing a quiet space.
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