Banks are giving handouts to colleges for making students incur credit debt

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  1. #1
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    Banks are giving handouts to colleges for making students incur credit debt

    For students going to college please watch out as it seems some backroom deals with the Banks and Colleges are going on.

    Basically they banks are giving colleges bonuses to students that end up gaining debt from a credit card.

    http://news.yahoo.com/s/huffpost/604109

    The schools and their alumni associations are entitled to receive payments that multiply as students use their cards. Some colleges can receive bonuses when students incur debt.

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  4. #2
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    Well, it's about time banks started doing this! credit card companies have been doing this for years, and years.

    "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain."
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    I hate that large corporations can manipulate vulnerable young adults just starting out in the world and just call it business!

    I had loans and credit cards thrown at me when I was a student and even afterwards when I didn't graduate, then didn't care they just saw profit they'd make. And now I'm just about crawling out of the mess I was in (11 years later), it was a very depressing time. So yeah! be careful if you're borrowing to study, always read the small print and work out actually how much they are asking you to pay back.

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  7. #4
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  9. #5
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  11. #6
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    "The bank says it's not taking advantage of students; it's amassing new customers whose loyalties can span a decade or more" what a load of bull crap, yea when they say loyalties they mean debt! Credit card companies and banks are one in the same

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