With evolving technology, the student ID card is becoming more versatile. For example, colleges have partnered with financial institutions, enabling students to make financial transactions using their IDs, both on- and off-campus. While this all sounds convenient, could this be unfair to students? Find out why from our infographic exploring the campus debit card trap.
Before President Barack Obama signed the Credit CARD Act into law in 2009, banks and credit card companies were often spotted on campuses promoting and marketing their products to young students – students who typically did not have a regular source of income and were more often than not on some form of study loan plan.
Despite the tighter regulations, financial institutions have been advancing their collaboration with US colleges, integrating financial functions into the basic student ID card. For schools, especially public schools supported by state revenues, such tie-ups with credit-card companies can provide a steady stream of income.
But are students marginalised by such deals? Find out more from the following infographic.
Brought to you by: OnlineDegrees.org