Credit card applications explored
Contracts like these often offer universities even more money, if their students carry balances on those credit cards. Although these contracts benefit both the university and the credit card company, they have the potential to exploit young people who many not know the consequences of poor spending decisions. As a result, many student groups are raising concerns about credit card issuers exploiting students. Even the politicians in Congress have been examining the contracts between academic institutions and banks, as hearings were held about the issue last summer. Credit card companies claim they are acting in good faith and helping students learn to become responsible consumers.