Campus Cards, College and University Identification and Security

Higher One opens financial literacy grant program to universities nationwide

Thursday, April 24, 2014

Higher One has opened the application process for its annual Financial Literacy Counts grant program. The grant program, which supports campus-based financial literacy education programs and initiatives, is open to any accredited, non-profit college or university in the U.S., with an independent review committee comprised of higher-education administrators selecting the recipients.

This year, Higher One has added a category specifically for proposals that support peer-mentoring financial literacy programs on campus. Those interested can apply for the new grant category in addition to applying for grants that support innovative financial literacy programs, activities or initiatives. 

Univ. of Wisconsin to consolidate student account funds

Tuesday, April 22, 2014

Student purchases made on the University of Wisconsin’s campus – with the university’s Wiscard – are set to be simplified as well as offer additional discounts on food.

Beginning this summer, UW-Madison students will move away from the traditional system, which saw them navigate three separate account options when managing their money for on-campus purchases. Previously, students maintained a Campus Cash, Housing Food and Union Meal account that were all tied to the student’s Wiscard.

The Wiscard also serves as the official student ID and physical access card on campus. The three accounts tied to each card, however, served different purposes and were accepted only at certain campus locations. Moreover, deposits and balances for each account had to be managed separately. 

Down to the wire on campus bank partnerships, debit, prepaid cards

Monday, April 21, 2014

Second draft of DOE regs remain troublesome for industry’s future

Chris Corum, Editor & Publisher

After the Durbin Amendment passed in 2010, fee income for banks offering debit cards was significantly reduced. It took just months for totally free consumer checking accounts to virtually disappear. So too went many of the rewards programs and other perks for consumer debit. The lesson was clear … when regulation removes money from one area it has unforeseen consequences, and most often the consumer feels the pinch.

So too will these changes to the campus banking accounts force a pinch that will ultimately be felt by the end consumer – the student. If campus financial accounts are squeezed too tightly, students will ultimately pay higher fees, have reduced choices and experience lower levels of both service and convenience. Additionally, they will miss out on opportunities to learn about money management through real world experience and organized financial literacy efforts provided through these partnerships.

The second draft of Title IV program changes from the Department of Education’s Negotiated Rulemaking effort was released on April 16. While there is some good progress toward the goal of protecting Title IV funds while giving students choice, there are still a number of issues with the latest draft regulations that could drive financial institutions out of the market. 

Heartland app creates a single point of access to campus life

Monday, April 21, 2014

With the contemporary college student and their smart phone attached at the hip, the use of mobile apps to fulfill daily tasks like door access, laundry and vending has become the new trend.

Heartland Campus Solutions is trying to provide solution to match this trend its OneCard Mobile app. The new app represents the consolidation of secure payments, virtual ID and physical access to facilities, events and information into a single point of access for the student.

OneCard Mobile has been piloted at a number of colleges and universities and promises to enhance the student experience as well as facilitate campus card administrators.

“Why not create a mobile app that combines a secure, pre-paid mobile payment system with student ID functionality that provides convenience to students, peace of mind to parents, and a helping hand to administrators looking to streamline operations?” says Melissa Peirano, general manager of Heartland’s OneCard program. 

NACCU session addresses DOE regs as new draft leaves unanswered questions

Monday, April 21, 2014

NACCU 2014 gave conference attendees the opportunity to learn more about the proposed Department of Education regulations for campus banking partnerships. Presenters highlighted the clauses that could most acutely affect campus card systems. More than 200 campuses took advantage of the opportunity to learn about the pending rule changes.

As the conference concluded, the new draft of rule changes was released by the DOE.

Under the initial draft, campuses issuing debit cards to students for access to federal aid would not be able to assess ATM usage, account maintenance, or overdraft fees. Additionally, universities would be obligated to post their agreements with debit card providers online. 

Podcast: Florida legislators detail biometric ban

Thursday, April 17, 2014

Florida Gov. Rick Scott is expected to sign a bill that would ban biometric in schools throughout the state. In this latest edition of the Regarding ID podcast, legislators detail why they think a ban is necessary instead of providing an opt-out provision. Senator Dorothy Hukill (R – Port Orange) says the biometric ban is intended to protect students from having their identities stolen even though she admits that there is no recorded instance of a biometric database being breached and used to steal an individual’s identity. [end] 

Banking partnerships grow in shadow of uncertainty

Tuesday, April 15, 2014

Annual CR80News campus card banking survey

It seems that banks are picking and choosing their battles when it comes to campus card partnerships, with some expanding their reach and others holding steady at their previous numbers. With subtle overall growth, however, it seems that it’s business as usual despite possible future regulations.

A year ago, the CR80News Banking Survey examined the impact that new regulations might have on the campus banking market. The 2012 survey saw very little year-over-year growth, and while there weren’t any earth shattering moves in 2013, the landscape has changed nonetheless.