New college debit-card program may have students shouldering the burden

10.31.10 – A new debit MasterCard that some Colorado community college students complain charges them fees just to access their financial aid wasn't originally part of the proposal state administrators were set to approve.

The company behind the debit card system bought out the firm about to win the lucrative state contract, then worked the debit card back into the deal.

The company, Higher One, did that by dangling an irresistible incentive to a cash-strapped state: It offered a $1.1 million computer software program for free in exchange for including the fee-driven cards.

The Colorado Community College System review panel that approved the deal had rejected Higher One’s debit card proposal early in the bidding process, ranking the Connecticut company last among eight firms vying for the lucrative multi-year contract, according to state documents reviewed by The Denver Post.

Read more: New college debit-card program may have students shouldering the burden – The Denver Post http://www.denverpost.com/business/ci_16474742#ixzz13vqtxerM

Leave a comment

Sunday

October 31st, 2010

Staff Reporter EducationNews.org

Career Index

Plan your career as an educator using our free online datacase of useful information.

View All

On Twitter

US Census data shows college enrollment declined by half a million last year http://t.co/RpH4ggyJ69 #education #highered #edchat #edreform

12 hours ago

Can @Udacity's "nanodegrees" rival a college #education at a fraction of the price? http://t.co/41vJOOvFSj #highered #edtech #edchat

13 hours ago

Adaptive learning project uses video games in the classroom http://t.co/3OtcVQMjZ3 #edtech #edchat #education

14 hours ago

On Facebook

Subscribe

Enter your email to subscribe to daily Education News!

Hot Topics