Friday, January 02, 2009

Colleges in bed with banks on pushing credit cards

'Credit card slaves' protest for reform.

TEMPE AZ -- Colleges are profiting from deals with Bank of America and others on marketing credit cards to students, reports the New York Times.

These unethical marketing deals can lead to a 'debt trap' for many students who are not financially savvy, and are already suffering economically.

At Arizona State University, students set up a table on campus in 2008 to warn of the danger of debt and urge limits to on-campus marketing.

Colleges should be prohibited from selling or sharing students' information with banks for credit card marketing purposes, at the very least unless specifically and clearly authorized by each student.

1 comment:

Re-empower the People said...

Re-empower the people

Amen. Just because you are a student, the Universities don't own the student or their names.

The State used to do the same with your auto registration -- sell your info. to name buyers -- now you can just check a box if you want your name kept private.

You have to register for school, and register your vehicle, it's only right you have control how your name is used or not used, in any similar circumstances.

Heck, you can even 'opt out' of having your information shared with credit card companies -- universities and colleges have no business selling or sharing any students' information without their consent and knowledge.

Pass a law, and make it so, because the Univerities now have the same ethics as Enron, Worldcom, etc.