View Poll Results: Is it a good deal or no?

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  • Tis a good deal. Yes

    0 0%
  • It is a useful opton. Meh

    0 0%
  • Not a good deal. No.

    4 44.44%
  • Very bad deal. Colusion againt students.

    5 55.56%
  • Other

    0 0%
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Thread: Are payment cards a good deal or a raw deal for College students?

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    Are payment cards a good deal or a raw deal for College students?

    According to this article the payment cards are not a good deal. There is a captive audience and are being gouged by the financial institutions and the Colleges are benefiting from this deal. It doesn't help that the payment cards are required for dispersement of financial aid.


    Colleges' bank deals saddle students with big fees - Houston Chronicle
    An Enlightened Master is ideal only if your goal is to become a Benighted Slave. -- Robert Anton Wilson

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    Re: Are payment cards a good deal or a raw deal for College students?

    This system, issuing 'special' account debit cards is used in Texas for UI benefits. The "deal" is that you may make TWO debit transactions, without suffering any "transaction fees", for every deposit. The UI benfits are deposited by the state once every two weeks, so you can make only two, feeless withdrawls, to get all of your allotted money. The smart person makes ONE withdrawl of the entire balance, every two weeks, and either keeps the cash or puts it into a reasonable no fee (or interest bearing) bank account to use. Morons, suffer greatly by using that state issued debit card many times per deposit incurring lots of bank fees.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Are payment cards a good deal or a raw deal for College students?

    sounds like a rip.

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    Re: Are payment cards a good deal or a raw deal for College students?

    I have a Mastercard debit card through HigherOne that is utilized for the disbursement of my financial aid (a grant). I don't pay any fees unless I somehow manage to overdraw on the card. I can deposit money onto the card through paypal, my normal bank (Chase), or through the HigherOne website, should I so choose (but I don't). I could choose direct deposit, which adds a day or two, but I like keeping my financial aid separate.

    If you take the time to learn how to manage your money, there's really nothing hard about using the newer disbursement system. Every system has its flaws, but at the end of the day, financial aid is a favor awarded to students. Beggars shouldn't be choosers.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Are payment cards a good deal or a raw deal for College students?

    Quote Originally Posted by tessaesque View Post
    If you take the time to learn how to manage your money, there's really nothing hard about using the newer disbursement system. Every system has its flaws, but at the end of the day, financial aid is a favor awarded to students. Beggars shouldn't be choosers.
    IT is true that beggars cannot be choosers but then again the beggar shouldn't have to deal with a middleman who is trying to siphon off what the beggar does receive and also who is being very creative in making as many ways as possible to siphon off as much as possible.
    An Enlightened Master is ideal only if your goal is to become a Benighted Slave. -- Robert Anton Wilson

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    Re: Are payment cards a good deal or a raw deal for College students?

    Quote Originally Posted by Shadow Serious View Post
    IT is true that beggars cannot be choosers but then again the beggar shouldn't have to deal with a middleman who is trying to siphon off what the beggar does receive and also who is being very creative in making as many ways as possible to siphon off as much as possible.
    If you read and understand the terms you don't have to worry about anybody siphoning off money.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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    Re: Are payment cards a good deal or a raw deal for College students?

    Quote Originally Posted by tessaesque View Post
    I have a Mastercard debit card through HigherOne that is utilized for the disbursement of my financial aid (a grant). I don't pay any fees unless I somehow manage to overdraw on the card. I can deposit money onto the card through paypal, my normal bank (Chase), or through the HigherOne website, should I so choose (but I don't). I could choose direct deposit, which adds a day or two, but I like keeping my financial aid separate.

    If you take the time to learn how to manage your money, there's really nothing hard about using the newer disbursement system. Every system has its flaws, but at the end of the day, financial aid is a favor awarded to students. Beggars shouldn't be choosers.
    I don't understand the justification for any college using this. It says that the cards are cheaper and faster for them...I dunno in what way, but my aid has always been just credited toward tuition, then the leftover direct deposited into the bank on the day tuition is due, no cards or mobster middle men involved. I don't see why that's so difficult. Financial aid is not a favor to most either, when almost all of it for undergrads is loans and work-study, at least at non top 25 schools. Calling them beggars is insulting when they have to pay it back, with no guarantee of return on investment. It's soon going to be where the colleges will be the beggars. Most of them these days simply couldn't exist without financial aid.

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    Re: Are payment cards a good deal or a raw deal for College students?

    It's a crappy deal. I went straight to direct deposit and get upset at financial aid disbursements taking longer for something that didn't used to take that long.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

  9. #9
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    Re: Are payment cards a good deal or a raw deal for College students?

    Quote Originally Posted by tessaesque View Post
    If you read and understand the terms you don't have to worry about anybody siphoning off money.
    The students should not have to deal with this read what wolv67 said and notice the part I emboldened.:

    Quote Originally Posted by wolv67 View Post
    I don't understand the justification for any college using this. It says that the cards are cheaper and faster for them...I dunno in what way, but my aid has always been just credited toward tuition, then the leftover direct deposited into the bank on the day tuition is due, no cards or mobster middle men involved. I don't see why that's so difficult. Financial aid is not a favor to most either, when almost all of it for undergrads is loans and work-study, at least at non top 25 schools. Calling them beggars is insulting when they have to pay it back, with no guarantee of return on investment. It's soon going to be where the colleges will be the beggars. Most of them these days simply couldn't exist without financial aid.
    And since this is being forced on the students by the Universities the consequences of having it go thru these middle man are noted by Fiddytree:

    Quote Originally Posted by Fiddytree View Post
    It's a crappy deal. I went straight to direct deposit and get upset at financial aid disbursements taking longer for something that didn't used to take that long.
    An Enlightened Master is ideal only if your goal is to become a Benighted Slave. -- Robert Anton Wilson

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    Re: Are payment cards a good deal or a raw deal for College students?

    Quote Originally Posted by Shadow Serious View Post
    The students should not have to deal with this read what wolv67 said and notice the part I emboldened.:



    And since this is being forced on the students by the Universities the consequences of having it go thru these middle man are noted by Fiddytree:

    The students shouldn't be obligated to understand a legally binding contract they're entering into? Seriously?

    That is everything that is wrong with modern society, right there.
    "Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton


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