Higher One student loan settlement now underway for account holders

If you borrowed money for college using the Higher One loan service, you may be entitled to participate in a class action lawsuit settlement in the coming months.

College students and others whose loans were processed by Higher One Holdings, Inc., can make a claim to receive part of a $15 million settlement fund. You can make a claim online at this link. The attorneys at Jones Ward PLC, along with several other law firms, reached the settlement agreement with Higher One and its business partners after filing multiple class action lawsuits in Kentucky and other states. The lawsuits claimed that Higher One’s fees were unfair and deceptive, that it didn’t have enough ATM machines on college campuses, and that it forced students to use its services against their wishes.

Email notices detail settlement program

The amount of the Higher One settlement payments depends on how long the account holder used the company’s services, and during which years. Email notices will be sent to class members first as part of an effort to control costs. If a potential recipient’s email address is no longer valid, he or she will receive a notice in the mail. The deadline to respond is Jan. 23, 2015. You can read the entire settlement agreement at this link. Higher One customers, including thousands at the University of Louisville and dozens of other colleges, typically had an agreement with the company called a OneAccount. Here are the criteria for participating in the settlement:

“All persons who opened a OneAccount between July 1, 2006 through
August 2, 2012 and who incurred a OneAccount Fee during that
period.”

More details on Higher One program

If you have questions about the Higher One settlement, the best source of information is the settlement Web site, which also has a Question and Answer page. If you have a question about a consumer protection or financial issue, call Attorney Alex C. Davis at 502-882-6000 or send an email to alex@jonesward.com.