Many college students are being nickel-and-dimed and incurring more debt due to bank-affiliated debit cards common at many schools, according to a new federal report.
Nearly 900 campuses nationwide, including Solano Community College, have partnerships with financial institutions to disperse financial aid through debit cards.
The report, “The Campus Debit Card Trap,” by U.S. PIRG, says banks and other financial institutions are taking advantage of partnerships with colleges.
One common problem that report authors identify is that students often pay fees to use foreign ATMs and other services, Cal PIRG consumer advocate Jon Fox said.
via Report finds fault with financial aid debit cards at many college ….