College Debit Cards: Actions Needed to Address ATM Access, Student Choice, and Transparency

United States. Government Accountability Office.

United States. Government Accountability Office.

关键词: Government accountability -- United States.;    business regulation and consumer protection;    financial markets and institutions;    education;    college debit cards;   

RP-ID  :  GAO-14-91
RP-ID  :  660918

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the Government Accountability Office with an abstract that begins "At least 852 schools, or 11 percent of U.S. colleges and universities, had agreements to provide debit or prepaid card services to their students as of July 2013, and most offered students the ability to receive federal student aid and other payments on a card. These schools were disproportionately large; their enrollments constituted about 40 percent of all postsecondary students. However, the percentage of students enrolled in their schools' college card programs was unknown. In the majority of agreements, the schools also outsourced to their card provider the process for paying financial aid and other funds via college cards and other methods. Some schools also used college cards as student identification. The dominant provider was Higher One, a nonbank financial firm that had a 57 percent market share in 2013, as measured by number of card agreements."