Why do Financial Aid students need to keep an updated address in myLane?

Why do Financial Aid students need to keep an updated address in myLane?

Lane Community College partners with Higher One, Inc. for financial aid recipients to receive their financial aid refunds from Lane. Higher One offers two ways for Lane students to receive their refunds. You may choose either Direct Deposit (known as "ACH Transfer") to an existing credit union or bank account if you already have one, or you may choose to have your funds placed on Higher One's Lanecc Debit Card. When you have a completed Financial Aid award letter, and you have also registered for classes, Higher One sends you a debit card, which you will use to log into their website securely, and choose your option. This is how Higher One ensures your identification.

Lane needs a valid PERMANENT address in order to send your card so you may choose your refund preference. (Though other address types are listed in myLane's options, Lane does not use these types) In addition, any time your financial aid pays, and there is a refund available, Lane needs to know you have an active address in order for us to send it to Higher One. So if you move, please keep your address updated in myLane.

Step-by-step instructions to update your address

What does this mean to you?

Students have 2 choices in how refunds are received:

Option #1: Debit card for a OneAccount through Higher One (Within 1 business day after Higher One receives payment information from Lane)
Option #2: Direct Deposit (ACH transfer) to 3rd party bank account (Within 1-3 business days after Higher One receives payment information from Lane)

How does it work?

You will receive a MasterCard branded debit card in the mail. Follow the instructions and go to laneccdebitcard.com and sign in using the numbers on your card. Logging in this way does NOT activate your card. You have a choice! Once there, you will be prompted to choose one of the methods listed above as your preferred way to receive your financial aid refunds. Your financial aid refund will be disbursed to pay off your college account viewable on myLane. Higher One will then receive the refund amount and process it according to your selection. You may change your refund preference at any time.