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OPINION
| february 11, 2004
Editorial/Our View
Banking on Students
Administrators should examine
‘One Card’ proposal thoroughly
The administration’s proposal to
allow Mav Express cards to be used as debit/ATM cards could be a
good thing, but only if SC and administrators carefully examine
the potential impact on students and how useful the options would
be.
SC President Josh Warren will turn in student comments on the “One
Card” Solution Feb. 18 to Rusty Ward, interim vice president
for business affairs and controller.
The proposal would result in enhanced options for students, including
unlimited ATM access and free checking accounts. There would also
be a possible bank location on campus, automatic payroll disbursement
and financial aid/refund distribution to the accounts.
Currently, the Mav Express card is limited to on-campus purchases
and can be used at a few businesses near the university.
Students could use the proposed card at off-campus businesses through
a debit purchase and use ATMs off-campus. The ability to use the
card at ATMs could help students who do not have a local bank account
and must rely on their tuition reimbursement to get by.
The new card would be convenient for students and help solve a few
financial aid frustrations. Students and student employees wouldn’t
have to wait for paychecks or refunds from the university and could
use the money immediately. However, these options may not be necessary
or wanted by students. For instance, what if students already have
a debit card? This proposal doesn’t say whether students would
be required to sign up for a checking account when they receive
their Mav Express card. If they are required to, this may result
in student complaints or attempts to bypass the policy.
Further, this proposal raises privacy concerns. Part of the proposal
includes free 24/7 online banking, which may require a student’s
personal information to access the account. This information could
end up in the wrong hands, as demonstrated when a hacker accessed
the Social Security numbers of UT-Austin students last year.
If this proposal is passed, perhaps administrators should make the
transition optional. Young students may feel intimidated entering
the university with an automatic bank account.
This proposal is a good idea but more research and student input
are essential to determine its potential impact on students.
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Editorial
round-up
The issue:
Administrators have proposed an option to allow Mav
Express cards to be used as debit/ATM cards. It
is currently being
researched by
Student Congress.
We suggest:
Administrators should thoroughly determine student opinion
and the proposal’s potential impact before they
enact it.
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