Beware Fees on Student ID Cards Doubling as Debit Cards

Don’t be swayed by your school’s logo on the plastic.

Student ID cards today do much more than confirm that you belong on campus. Now, some schools are even loading financial aid on their ID cards. Financially strapped colleges are partnering with banks and financial-services firms, which pay for the privilege in hopes of creating long-term banking relationships with students. But before making an ID card a debit card or opening an account, students should evaluate offers carefully. Don’t be swayed by a school logo on the plastic.

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Senior Reporter, Kiplinger's Personal Finance