Colleges' bank deals saddle students with hefty fees

WASHINGTON – As many as 900 colleges are pushing students into using payment cards that carry hefty costs, sometimes even to get to their financial aid money, according to a report released Wednesday by a public interest group.


Colleges and banks rake in millions from the fees, often through secretive deals and sometimes in apparent violation of federal law, according to the report, an early copy of which was obtained by The Associated Press.

 

More than two out of five U.S. higher-education students — more than 9 million people — attend schools that have deals with financial companies, says the report, written by the U.S. Public Interest Research Group Higher Education Fund.

 

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Comments: 1
  • #1

    Credit Flare Site (Thursday, 06 June 2013 09:25)

    We can for sure see that it is A very sad news for students being pushed to pursue for bank loans. The secret bank-college deal must be checked upon.

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