Higher One Holdings, Inc. and Sallie Mae have announced that Higher One has acquired Sallie Mae’s Campus Solutions business. Sallie Mae’s Campus Solutions provides business-to-business solutions, including e-commerce and billing payment solutions, refund disbursement services, and tuition payment plan administration, to college and university business offices across the country. Higher One is a leader in providing financial services and data analytics to college and university campuses across the U.S.
Under the terms of the purchase agreement, Higher One acquired substantially all of the assets of the Campus Solutions business in an all-cash transaction valued at approximately $47.25 million. “Sallie Mae Campus Solutions has been a trusted business partner to institutions,” said Mark Volchek, CEO and co-founder of Higher One. “The Campus Solutions team is talented and possesses a profound knowledge of financial assistance and payment solutions. We are excited to increase the breadth of Higher One’s offerings and expect to continue to bring best practices for refund disbursement services, payment processing services, and data analytics now to more than 1,600 campuses and more than 13 million students nationwide.”
Since its founding in 2000, Higher One has been focused on improving administrative efficiencies and reducing fraud and waste to help lower the cost of higher education. To date, Higher One has saved institutions hundreds of millions of dollars through its services which include its CASHNet® Suite of Payment Processing services, OneDisburse® Refund Management® funds disbursement service, and Campus Labs® campus-wide assessment tools.
“This sale reflects our focus on our consumer segment, which includes retail products and services that directly meet the needs of students and families as they save, plan, and pay for college,” said Charles Rocha, senior vice president & Chief Marketing Officer, Sallie Mae. “We are confident that Higher One will continue to provide our family and school customers with exceptional, transparent, and compliant products and services.”
Learn more at www.higherone.com/CampusSolutions.