4est_4est_Gump
Run Forrest! RUN!
- Joined
- Sep 19, 2011
- Posts
- 89,007
http://apnews.myway.com/article/20120530/D9V2PU500.html"For decades, student aid was distributed without fees," Williams said. "Now bank middlemen are making out like bandits using campus cards to siphon off millions of student aid dollars."
Students can opt out of the programs and choose direct deposit or paper checks to receive their college aid, but relatively few do. The cards and accounts are marketed aggressively using college letterhead and websites carrying the endorsement of colleges. Higher One also warns students that it will take extra days if they choose direct deposit or a paper check.
In the end, students feel locked into accounts before they have a chance to shop for a better deal, Parker-Milligan said.
He said that's especially tough for poor students who rely on food stamps and other social services. Those students budget down to the penny, and don't plan on paying a fee when Higher One's ATM runs out of cash, he said.
Fucking trifecta: Evil bank, unassailable victim, call to government
Ol' Forrest says, if students are that st-st-st-stupid...
they should not be allowed to vote.