At least one City Colleges of Chicago official wants to do away with the costly fees that come with student debit cards the district started using in the fall.A suggestion, Easy Refund Card. Check em out!
Ken Gotsch, the district’s finance director, says in the coming month he’ll be talking to student government representatives about the program and what they want to see changed.
“I’d like to get rid of the student fee … If we can accomplish that, that would be great,” Gotsch says.
Students can get the extra money from their tuition loans loaded onto the cards, which the district has advertised as an easier and faster method than waiting for paper checks. The extra loan money, known as a student loan refund, can be used however students choose. Often, students use the money for rent and transportation expenses.
But the debit cards, which rolled out at Kennedy-King College in Englewood last fall and then across the other six City Colleges campuses in January, carry a range of fees.
While the first withdrawal is free, every other ATM visit costs $2 and talking to a teller after the first trip is $10. The debit card program is run by JPMorgan Chase, which does not charge any of those fees for having a standard checking account. Chase officials have been unable to explain why the debit card fees are so high.
Dispatches from Chicago's south side.
Thursday, May 7, 2009
City Colleges rethinks debit card program
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