Higher One, De Anza and Foothill College’s financial aid disbursement system, came under scrutiny at the DASB senate meeting, Feb. 6.
Vincent Mendoza, student trustee, said he had actively pursued to modify their current contract or find a new financial disbursement system for student financial aid plans. Higher One’s contract with De Anza College is in its final year.
In 2010, 78 percent of Higher One’s $148 million revenue was generated from “interchange fees, ATM fees, non-sufficient fund fees, other banking service fees and convenient fees,” according to High One Holding, Inc.’s annual report.  
Higher one charges $20 dollars for a replacement card, 50 cents per ATM swipe and $19 or more for inactive card fees, Mendoza said.
Mendoza said De Anza students should not be forced to spend such a large sum of their financial aid on transaction fees, especially withdrawals.
Several DASB senators lamented the fact that De Anza still plans millions of dollars in budget cuts in spite of the financial boost provided by the passing of Proposition 30.
The senators discussed the effects on 17 academic departments following the budget cuts according to their ranking. The Foothill De Anza Board of Trustees is to vote on the cuts March 4.