Alternative to cash, credit, and debit

If you want to give your college-aged student a manageable way to learn how to budget, you might look beyond credit, debit, and cash.

College campuses across the country are launching their own debit cards that don’t have overdraft fees. Parents or students at John Carroll University load money onto the Carroll Cash card. It can be used on campus and off campus at places like pizza restaurants or CVS. If the student loses the card, they can cancel it online immediately.

It’s a good way for a parent to keep tabs on what their student is spending money for on campus. It also allows a student to see how money flows out of the account quicker than it comes in.

Many colleges offer a version of Carroll Cash. Just ask.

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2 responses to “Alternative to cash, credit, and debit

  1. Yeah, this is a better idea than giving your child a real credit card. We’ve also decided to use something like this or give our son cash each time we visit him. But it’s not the best solution, of course. Here at home we always bought him a prepaid card Paysafecard, which he used for his online games (so that he doesn’t have to use my credit card) and gave some cash weekly. Things are changing so fast…