Fees Again Or How Do You Get Your Money?

Planet College has consistently maintained a vigilant approach to student accounts, money, your money.  By this time in your college career you have probably learned that money is even more difficult to hang on to than it is to get.  Planet College again reminds you about one of the basic and enduring drains on your funds, fees. There is a comprehensive post here. This is a Planet College update about your money and your fees.

First think, how do you get your money?  Most all campuses have a student account for each student. Whether you are aware of it not. The traditional college student account system is detailed here and here. Read those entrys if you are unfamiliar with your campus's student account program and policy.

For a while some colleges and university's have issued debit cards in the name of the school but actually sponsored by an outside financial institution. These cards often charged students fees for using ATMs which were not operated by the issuing bank.  If you have had such a card you may have had the frustrating experience of hurrying to the nearest ATM for some quick cash only to find that you have been pretty seriously dinged for a relatively small withdrawl.

 This situation had come to the attention of financial regulators.  Michael Stratford, who writes for InsideHigherED, has published a report about these fees and other matters relating to student financial regulation here.  Mr. Stratford reports The Department of Education is carefully examining the relationship between banks and colleges and the agreements they have concerning these student debit cards.

While these institution confer and decide their policies regarding what is essentially your money there are now steps you can take to preserve your precious dollars.  Simplest among them is locating the nearest no-fee ATMs. While the relative savings may be small the habit of saving or at least spending carefully can add up to a significant sum for you over the term.