6 minute read
Paper to plastic
Beginning this fall, all nine school in the district will receive disbursements via the myLACCDcard
Bryan Melara / Roundup
This fall marks the first semester students will receive their award grants via the myLACCDcard by Higher One.
Higher One is an online bank that was chosen by the Los Angeles Community College District’s Board of Trustees to distribute student’s disbursements.
According to Pierce College Financial Aid Director, Anafe Robinson the district had a selection process, which included interviews with Higher One, in addition to other online banks.
“We knew about it for three years,” said Robinson. “The last two years is when we started researching and gathering data and we found there were no major problems.”
The plan that was in the works for three years according to Robinson was approved Feb. 2010.
Since the beginning of financial aid students have received their money by checks sent to their homes.
With the myLACCDcard, students now have the option to either open a free account with Higher One known as the OneAccount, or by electronic deposit to their personal checking or savings account.
“We’ve had students in the past that didn’t have checking accounts and would take their checks to check cashing places, which they had to pay,” said Robinson. “There’s also been a lot of lost checks in the past.”
With wa OneAccount students will be able to receive their funds the same day they get approved and will have benefits that include: no minimum monthly balance, no monthly fees, free internet banking and the ability to make purchases anywhere debit MasterCard is accepted.
For electronic deposits to a personal checking or savings account students will need to enter their banking information on the Higher One website, however funds will be delayed two to three days business days.
“I think it’s more convenient,” said Junnel Gutierrez, 16, undecided major. “I can just go to an ATM and get cash instead of going to check cashing places and filling out paperwork and paying.”
Along with making the Financial Aid process easier and safer for students, the use of the myLACCDcard should save the district money according to Robinson.
“With our economic conditions we need efficient ways to give our students financial aid,” said Robinson. “Four cent stamps, special paper for checks, printers, a full-time staff and maintenance of printers adds up.”
The myLACCDcard is mailed to students that applied for financial aid, whether they get approved or not.
When the myLACCDcard is received students will need to enter the 16-digit number on card to login on myLACCDcard. com and choose the disbursement preference.
“It’s a lot easier, instead of having to run around,” said Annette Logan, 18, Criminal Justice major.
Not everyone is as delighted about the myLACCDcard.
“I don’t really like it,” said Oswald Cuellar, 17, psychology major. “I think its just making things more complicated.”
A Higher One ATM has been installed and is available for use in the Student Store.
For more information on the myLACCDcard visit www. myLACCDcard.com or the Financial Aid office located in the new Student Services Building.
