Chronicle of Higher Education
10-01-07
CREDIT-CARD DEALS: A state senator in Iowa wants to prohibit banks and
other companies from offering giveaways to college students that entice them to
sign up for credit cards. Joe L. Bolkcom, a Democrat, said he would also
consider requiring alumni groups to disclose contracts they have signed with the
Bank of America. He made his comments after an article in The Des Moines
Register analyzed the deals that Iowa State University and the University of
Iowa had made with their alumni associations to "endorse, promote, and profit"
from Bank of America credit cards that are marketed directly to students, many of
whom graduate in debt.