PayDivvy’s social bill management services will soon be available to college and university students on the Higher One platform.

That’s because Higher One, a tech services company for college campuses, has purchased PayDivvy’s software. Now that the year-long acquisition process is complete, Higher One will enable its client base of college students to split and track bills and share expenses using PayDivvy’s social bill management services. Terms of the acquisition were not disclosed.

While the technology is well-suited for expense tracking and splitting among college roommates, Higher One has future plans to open the service to non-college students, in order to retain users after they graduate.

PayDivvy’s founders, Mike Melby and Ray Tamblyn, have left to pursue other ventures, but the team of engineers at PayDivvy will still work with Higher One.

To learn more about PayDivvy, watch its FinovateSpring 2011 demo.