New Campus Banking Rules Hope To Protect Students From High Prepaid Card Fees

New Campus Banking Rules Hope To Protect Students From High Prepaid Card Fees

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Back in May, the Department of Education proposed rules to govern college prepaid credit and debit cards in order to afford students proper protections from excess fees and other harmful practices. Fast forward five months, and those rules have are now finalized. 

The Dept. of Education announced Tuesday that it had finalized regulations to protect students and the nearly $25 billion in federal student aid issued on debit and prepaid cards through college’s lucrative partnerships with credit card issuers.

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