<p>I don’t believe in making a threat that I don’t intend to follow through on – and that decision would be S’s anyway as it is HIS college. It’s a fine college. There are some great professors and S has made good friends and believes in his degree path. </p>
<p>One of the challenges of the 2008 financial crisis was that banks were no longer behaving like careful, prudent banks. Also, “Too Big to Fail” can translate “who cares about the little guy”. </p>
<p>As to “talk to the attorney general of the state” – well, that would be a kid from Washington State writing to the Attorney General of Connecticut. I can’t see that letter jumping to the top of the AG’s “to do” list. That’s why I want my kid to have the option of having his (WA) money deposited into a WA credit union. </p>
<p>I think students can be particularly vulnerable because it is a population that is not likely to be checking credit reports – not until they graduate and suddenly finding out that potential employers are running credit checks and they (the students) have lousy numbers because of credit card fraud. </p>
<p>When we’re paying $20K a year to a college, we should be considered “clients” that the college should want to protect and keep happy! (IMHO).</p>
<p>Have you or your son contacted the finance office at that college to determine what other options are available? It seems unlikely to me that this would be the only possibility. If it is, then that would be an issue to raise with the college administration.</p>
<p>Just took a look at the HigherOne website. While it is very nice that some college students saw fit to open a banking business, I can’t help wondering why on earth they didn’t do it as a credit union instead. That would make more sense to me, and would leave parents with a greater security that no one is snatching a lot of profit off of this money.</p>
<p>Please note that I said talk, not write. I would also point out the the college won’t know you have a problem with their policy if you don’t tell them.</p>
<p>“it is a really BAD idea to throw credit card applications in the trash. They should be shredded.”</p>
<p>The form I was referring to is BLANK when you receive it or perhaps has your name on it…Not sure how someone could steal that to their benefit???</p>
<p>I did email the student accounts office with my concerns and have had no response. I also contacted a fellow parent and when she went in to pay, she also made her concerns known. We’ll see if it makes any difference. </p>
<p>Time2, the blank forms or prefilled forms that come to you are EXACTLY what should be shredded (or I tear them in half and put each half in a different garbage bin). Most of those forms are letting you know that you are “pre-approved” for a card. One that I got had me pre-approved for $100,000 line of credit! Ye Gods!</p>
<p>There have been instances when a friend, neighbor, relative or mail thief has taken a blank form/autofilled form and then simply put in their own mailing address (as a “correction” so the bank then mails the credit card to the submitted address. You may be “Mary Smith on Oak Street” and you will not know that a credit card went out to “Mary Smith at PO Box 123” until you check your credit report. </p>
<p>Meanwhile, your mail thief has the Mary Smith Visa card and can go merrily shopping like mad, closing out the PO Box or leaving town ahead of you and the law. </p>
<p>We live in a rural area and we had a rash of mail theft about five years ago. A mail thief was driving behind the delivery lady, emptying out mailboxes of credit card offers. This was not discovered until the police raided an ID theft ring in Tacoma and found boxes of mail from our neighborhood. Most of us have switched to locking mail boxes but trash still goes out to the intersection and isn’t monitored.</p>
<p>When I was in community college, I had to do refunds through higher one. It’s really not as big of a deal as everyone is making it out to be. You want it direct deposited in your account? Then do that. You want a.check mailed to you? Do that. If you want to withdraw 8.63, go to a store and get cash back. And if you don’t want a credit card, tear up the offers. It’s just a debit card</p>