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CU System
Heartland debit card to distribute financial aid
PRINCETON, N.J. (4/16/10)--Heartland Payment Systems Campus Solutions division is offering a debit card linked to a student’s identification (ID) card that can be used to distribute financial aid in lieu of paper checks. Heartland’s Acceluraid uses a single financial account that can be integrated with a campus’s card system. The program gives students access to their financial aid refunds through a unified financial account that links to a prepaid campus identification card and a school-branded debit card. The card can be integrated with an ID card or used as a standalone, Heartland said. North Central Missouri College, Trenton, Mo., introduced the program in January. It distributed $2 million in financial aid to students. The funds can be used for online bill pay or accessed through free withdrawals from campus ATMs and cash-back options at participating merchants. “Acceluraid has transformed financial aid disbursement on our campus,” said Sharon Barnett, vice president of administrative services. “It enables our administration to save money on personnel costs, check issuance and reconciliation issues caused by delayed deliveries and lost or returned checks.” The college also plans to disburse its student payroll through the Heartland’s OneCard system in the near future, she said. Heartland Payment Systems received significant media attention when its processing system was breached in 2008. The company provides card processing services for financial institutions nationwide, including credit unions.


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