GAO Recommends Changes for Student Debit Cards

By: Associated Press Email
By: Associated Press Email

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.

Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to
Please provide detailed information.
All comments must adhere to the discussion rules.

powered by Disqus
WSAW-TV 1114 Grand Ave. Wausau, WI 54403
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 245402091 -
Gray Television, Inc.