Campus Cards, College and University Identification and Security

Some have issues with combined student ID, banking card

Thursday, May 27, 2010

More and more colleges in Ohio are turning their student IDs into bank cards, which critics say is a red flag for young spenders, according to a local news report.

One college student says the new cards will result in students spending a lot of money, buying late night meals at local restaurants. Another student stated that she had enough trouble keeping up with her other cards, and would likely pass on using the campus card’s debit functionality.


School administrators note that with the cards students cannot accrue debt, because they can only spend what money is in the account. “It is strictly an ATM or debit cards,” said on university vice president.

Administrators also added that the debit-enabled campus cards are in fact safer than most debit cards because they also include a photo of the cardholder.

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A study has revealed a clear need for greater and more differentiated financial literacy education in the K-12 environment.

The “Money Matters On Campus” report, now in its second-year, polled some 65,000 first-year college students across the country. In addition to the need for an early financial understanding, survey results indicate that colleges and universities should provide financial education at the onset of a student’s college experience to better ensure that students will make sound financial decisions later on. The study was conducted by Higher One and education technology specialist EverFi.

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A student ID can verify an individual’s identity with a simple swipe, tap or scan, instantly tethering the person who presents the card to a user account on the backend system. But what happens when the cardholder no longer uses their legal name?

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Social verification specialist Trulioo has teamed up with ID document verification startup IDChecker.com to develop a mobile technology that could replace the university student ID card.

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The University of New Brunswick is adding a unique feature to its campus ID by harkening back the oldest payment method around, cash.

The new university identification cards double as cash cards that can be used at selected businesses on campus. The new IDs have seemingly been a big hit, as an estimated 1,100 students have already made the switch to the new credential.

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Regulatory action is being proposed in the campus-banking sector, with the U.S. Department of Education releasing its first draft of regulations on campus debit cards that will effectively prohibit certain fees, constrain marketing practices and institute transparency regarding the college-card provider relationship.

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Following the Department of Education’s first draft of proposed regulations on financial aid delivery and campus-issued cards, it is clear that there could be major repercussions should all the demands stand.

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