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Algonquin College students lose money through rigged debit card reader

Thursday, September 18, 2008

It’s bad enough you have to worry about ID or credit card thieves. Now, you have to be wary of debit card readers? That was apparently the case at Algonquin College in Ottawa, Canada, where more than 20 students found money missing from their bank accounts after someone rigged the reader at a campus cafeteria to copy card numbers.

The reader was then stolen, apparently so the numbers could be retrieved. The amount of money stolen wasn’t revealed but one student reported her entire account of $500 was cleaned out. Campus officials reported that only one of the 70 terminals on campus was affected.

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Northland Pioneer College in Holbrook, Arizona has selected Higher One to help electronically distribute Financial Aid and scholarship refund disbursements to students.

Currently, students can only receive their refunds by a paper check, which means administrations spend long hours printing, stuffing, and organizing checks while students wait even longer to receive them.

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Florida State College at Jacksonville has partnered with technology and payment services provider Higher One to help electronically distribute Financial Aid and other refund disbursements to students.

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Students at UC Davis and California State University, Sacramento now have the ability to link their campus ID cards to US Bank and Wells Fargo, respectively, according to the Sacramento Bee.

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In a recent poll conducted by Higher One Holdings, it was revealed that U.S. college students lack the financial knowledge needed to manage their money and over half are currently in credit card debt. The survey also shows that students are looking to higher education institutions over their parents as the source for providing financial literacy.

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It’s more a students’ photo identification. It’s an all-in-one solution for campus access, services and events. The Mountaineer Card, the official campus card for West Virginia University, is an essential part of student life, according to The Daily Athenaeum, the university’s official student newspaper.

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University of Central Florida has expanded its card services to offer students more options when using and managing their student ID cards, according Central Florida Future.

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