Universities Get Commissions For Credit Cards Sold On Campus

This CNN report shows how universities are cutting lucrative deals to let credit card marketers push their wares on campus. Schools will get commissions based on signups, or even based on the amount students charge on their new cards. Certainly there are kids who will use the credit cards prudently, but equally certain is that they are in the minority.

We think “Consumerism 101” should be a required freshman course, but instead these colleges are lining their pockets with their student’s naivete. — BEN POPKEN