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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