This is a hard thing for many people to do, including myself. Usually, we see a bunch of tiny little words and say to ourselves, “yeah, it pretty much says what all the others say,” and look over it. It’s a common American practice because really, we don’t care what the contract says, we just want what it offers us.
The issue some college students may run into though is additional fees to access financial aid through college-issued debit cards. You’ve probably seen these before. You probably even use one yourself. Pick one up at an on-campus bank and you’ve got yourself a convenient means of paying for all your stuff. I mean, who wouldn’t want a bank that’s walking distance away? And the card can even double as a student ID card too.
Though of course, many don’t realize that there’s a drawback to this. For there to be an on-campus branch, there has to be an agreement between the bank and the college. In this case, in order to use this incredibly convenient service, students would be required to pay extra fees to use the cards, depending on what the transaction is. I understand that it’s probably a little more complicated that this, but you get the idea.
Point is, if you’re given a contract, read it. If you don’t understand it, break it down into segments and try to get an idea of what it’s saying. If you don’t like what it says, then don’t sign it. Return the papers, walk out of the office, and find another bank. It’s as simple as that.
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