Going to college can be expensive, that's why many students cherish any financial aid they receive. Now, that money is being taken away.
In today's day and age, college students now have the opportunity to receive their financial aid via debit cards. More than 4.3 million students are currently taking advantage of the cards offered by out-of-state financial institution "Higher One."
Students will be able to get their money quicker than traditional methods, but it will come at a cost.
Siphoning fees from student aid disbursement cards brought in 142.5 million dollars last year for Higher One, leading to a letter being sent by Senator Brown. The letter called on them to follow the same practices used with credit card holders, asking them to better inform students about fees associated with card use.
For now, students will have to be sure to read the fine print and educate themselves on all of the hidden fees.