NEW HAVEN — If agricultural subsidies were to go directly to consumers in the city, residents would be able to buy 1.2 million Twinkies, or 32,120 apples, according to a study released Wednesday by Connecticut Public Interest Research Group.
Given the history of shady dealings between banks and colleges, Congress needs to take a hard look at the increasingly common practice of schools contracting with banks to disburse financial aiddollars to students.
Consumer advocates have long criticized the amount of fees associated with debit cards. Most recently, a report by the U.S. Public Interest Research Group Education Fund found that hundreds of colleges have partnerships with financial companies to put a student’s financial aid on debit or prepaid cards that carry hefty fees. Under some of these deals, official student photo ID cards can double as debit cards.
Thought the student loan crisis was bad as it is? Now add hefty fees into that mix. Providers say students can avoid the fees that pile up when they elect to receive their financial aid on a debit card, but new research from a consumer advocacy group finds that these companies throw up roadblocks to keep the fee revenue rolling in, even as colleges make big bucks off their affiliations with these institutions.