Colleges selling student's info to credit card companies.

<p>There is an article in the Huffington Post today that says that many universities have contracts or Affinity agreements made with credit card companies whereby they sell them student's personal information and student's then receive credit card solicitations from the banks (or are preyed upon), and not always at competitive rates.</p>

<p>I can't imagine how this benefits students, most of whom will already be graduating with so much debt. </p>

<p>HuffPo is encouraging parents to find out if their kid's colleges participate in any of these programs and to share that information with them. They make a point of saying that under the Truth in Lending Act §140(f)(1), implemented by Regulation Z § 226.57(b), as an institution of higher education schools are required by law to publicly disclose any and all credit card marketing contracts or other agreements made with card issuers or creditors for the purposes of marketing credit cards to students (link to the legislation at govtrack.us - see sections 304 and 305).</p>

<p>See this story in the Huffington Post about affinity agreements between colleges and credit card companies:
Banks</a> Paying Colleges For Students Who Rack Up Credit Card Debt</p>