Bad Idea When Banks And IHEs Team Up For Debit Cards

Banks have long pitched credit cards on campuses through exclusive deals with university alumni and athletic groups. But in marketing financial products to students, debit card partnerships have become the next frontier. Why? One major reason is that debit card use is growing faster than credit card use, and young adults have proved especially willing to embrace the financial industry's push for cashless payments.Students also tend to be short on cash. That makes them a reliable source of fees for banks, which charge up to $38 each time consumers overdraw their accounts. At Portland State University hundreds of students protested, angry that the school was promoting a bank account they felt cost students more than other banking options. Read more at:  http://www.usatoday.com/money/industries/banking/2008-03-16-cover-college-debit_N.htm