CFPB calls for sunshine on campus debit cards
Expanding transparency around colleges is always a concern. Families and students, who are often viewed as "consumers" of higher education, are rightfully due the disclosure of a bevy of relevant information about institutions they compensate in exchange for education. In addition to the many existing laws governing required disclosures by colleges, there's been, in recent years, a push for transparency in possible costs (the net price calculator), a push for transparency in campus safety (Clery Act and campus safety statistics), and a push for transparency in defaults of loans (cohort default rates). Such transparency is required of private and public schools, under the assumption that certain types of transparency are universally needed for students and families. On Tuesday, there was a call for greater collegiate transparency in a new realm: campus debit cards.