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What’s the deal with student cards and bank accounts?

Email us at CFPB_StudentsFedReg@cfpb.gov by March 18. Tell us about any aspect of your experience, including:

  • Signing up for the card or account,
  • Fees you’re charged to use the card or account,
  • Which cards or accounts you chose, whether they were the product your school recommended or if you shopped around

You can also submit your comment to the Federal Register on Regulations.gov. Read the full list of questions and learn more about how to submit.

Why do we care?

College is a time when many of us signed up for our first bank account. Often schools set up agreements with financial companies to offer cards and accounts to their students. Today, some students can use their student ID card to pay for everything from washing a load of laundry to shopping online.

With credit cards, financial companies have to publicly disclose these types of agreements with schools. However, we know less about these arrangements when it comes to other things, like debit cards to access your student loan funds and student checking accounts. We’ve heard from students that sometimes these arrangements are a convenience, while other times we’ve heard that they didn’t feel they had a choice. We want to see if students are getting a good deal and what schools can do to help them through the process.

That’s why we need your help. We want to hear about your experience with financial products designed for college students.

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