Campus Cards, College and University Identification and Security

Under the microscope: Campus card banking

Wednesday, November 14, 2012

Following the controversial report from U.S. PIRG, Congress investigates both campus card banking partnerships and financial aid dispersal. Is the future of these products in doubt?

As campuses have embraced electronic distribution of financial aid and banking services tied to student ID cards, a question has emerged. Are students forced to pay more for the convenience? The U.S. Public Interest Research Group’s Education Fund says ‘yes,’ suggesting that college students have been unfairly targeted for extra fees to the financial benefit of both banks and universities.

But vendors serving the higher education community and many campus administrators vehemently deny these allegations. They argue that campus-focused financial products actually save students money and offer significant benefits.

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A month-old security policy at Emerson College, called Tap and Go already has some off-campus students raising safety and usability concerns.

Under the new system, everyone entering an Emerson campus building must tap their IDs or be signed in. The policy also mandates that the outside doors of residence halls be locked automatically, requiring a campus ID to enter, according to a report in the Berkeley Beacon.

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Students at Williams College are swapping their mag stripe student IDs for a new, combined mag stripe and proximity credential.

The new IDs will be used to gain access to building and study rooms on campus both during and after hours.

read more »

Waukesha County Technical College has started its search for a new banking partner to fill its on-campus location.

A 2009 poll conducted at the Waukesha County Technical College found that 69% of students would use an on-campus bank. Now, the school is seeking proposals for a full-service branch on its Pewaukee campus.

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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.

read more »

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