» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 31 | Friday, February 14, 2014

GAO Recommends Changes for Student Debit Cards

KIMBERLY HEFLING | AP Education Writer

Print | Front Page | Email this story | Comments ()

WASHINGTON (AP) – Congressional investigators say small fees add up for college students using college-issued debit and prepaid cards, which often are used to draw financial aid.

These types of cards are becoming more common on campuses.

The Government Accountability Office says the fees generally are similar to those other debit cards charge, and some students end up with out-of-network ATM fees. The agency says some cards have terms that charge a fee if students enter a pin number to receive money instead of signing to get cash back.

The agency says contract terms should be more transparent. Students are supposed to have convenient access to aid money. GAO asked the Education Department to define convenient access to ATMs and develop requirements that ensure students know their options. The department says it agrees.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 92 388 9,204
MORTGAGES 119 513 12,365
FORECLOSURE NOTICES 0 98 2,526
BUILDING PERMITS 0 960 20,801
BANKRUPTCIES 77 338 7,964
BUSINESS LICENSES 14 91 3,315
UTILITY CONNECTIONS 180 695 11,718
MARRIAGE LICENSES 33 147 2,815

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.