Colleges, Universities and Alumni Associations Were Paid 83 Million Dollars To Push Credit Cards On Students

Do university administrators feel guilty about encouraging their students to sign up for credit cards that Handful of cut-up credit cards.provided kickbacks to their schools?

Of course, these administrators should. Over the year, hundreds of colleges gave student credit card issuers amazing access in return for cold cash. Colleges surrendered such personal information as student emails, addresses and phone numbers so these companies could pelt students with promotions. And schools allowed credit card issuers on their campuses where they lured kids into signing up for student credit cards in return for t-shirts or other freebies.

Of course, they don’t. Guilt is for suckers. Winners take their opportunities as they come. After all, those students are adults (most of them). They make their own decisions, right?

Looks to me like shooting fish in a barrel.

For years, colleges pushed credit cards on to their most vulnerable students, often those without income and certainly those without financial savvy. The colleges made a tidy sum. A few of their students committed suicide and a great number wound up in debt that fifteen or twenty years will be required to pay it off.

Of course, they don’t feel any responsibility. It was just business.

Average student credit card debt – $3173.

Hook ’em and Cook ’em.

And the colleges, universities and alumni associations weren’t protecting their students. They were exploiting them.

Business ethics – You don’t rip off your customers. (Apparently this is hard for some people.)

James Pilant