People are getting very vocal about their support or contempt for the Higher One program, and I can’t help but feel aggravated (and amused) by the situations similarity to the Obamacare discussion.
Full disclosure: I am a graduating senior. I will never have to deal with this program in its entirety, which will start next fall. However, after talking with people on both sides of the issue, I can soundly say that getting upset is understandable, but pointless.
Higher One is a private entity that essentially functions as a bank.  Since the start of the financial crisis in 2008, a deep distrust of big banks has become the norm.  Also, the switch to Higher One managing students’ money is happening without their expressed permission. While there are more variables in the mix, the two mentioned are more than enough fuel for some incendiary rhetoric; but to me it looks like a lot of smoke.
There are things in life that are beyond our control. We can beat our chests and scream, or we can learn from the challenges presented to us. The university has incorporated Higher One into campus life to save itself money and to provide more options, which is admirable. However, the mistrust is understandable. There are objections to certain fees charged by the company, and the fairness of its policies has been questioned in the past, but we really have no idea how this will affect campus, and we will not until next semester.  
We should take a page from Texas senator Ted Cruz’s favorite book “Green Eggs and Ham” by Dr. Seuss. While the senator missed several key points of the story as he read it during his famed filibuster (call it what it is), we know better. We know that it is better to explore possibilities and play with alien concepts, the consequences be damned.  There are, after all, pros to balance the cons.
As I said, Higher One’s management of student payroll and financial refunds will save the university time and money. In times of deep financial cuts, this will allow the administration to reinforce programs that would have been otherwise degraded. The other benefit is the My Lion Card, which is completely optional, that allows instant access to refunds. Whether the excessive fees are worth its use is up to you.
In closing, if it is discovered that Higher One is a detriment to the quality of campus life and education, I have every confidence the administration will reconsider the program. If they don’t, then student government should step in, but the lesson to take from this is not what side to take, it’s that change is upsetting and that it is going to inevitably occur. That said, I think it’s best that we try to adjust to change rather than fight it.