Debit Cards and Campus Banking Products
Cash Management Regulations
Final Department of Education Regulations and Summaries
- Department of Education's final cash management rules (October 30, 2015)
- Provisions that apply to all institutions receiving Title IV funds
- Summary of provisions for schools with Tier One arrangements (school uses a third-party servicer to process credit balance refunds; the servicer also offers a financial account), Tier Two arrangements (school has an agreement with a bank/financial institution where accounts are offered and directly marketed to students), and Tier Two, Lower Threshold arrangements.
- Flowchart to assist in determining which type of arrangements schools have with banks and third-party servicers.
- Matrix broadly explaining the requirements for T1, T2, and T2-L arrangements.
ED Guidance
- ED's "Cash Management Information" webpage
- Final Format for Disclosures for Student Financial Accounts (July 3, 2017)
- ED's instructions for submitting/updating contract URLs (July 11, 2016)
- Department of Education Cash Management Questions and Answers (Q&A) (May 12, 2016)
- Technical corrections to the cash management rules (April 7, 2016)
NACUBO Resources
- Compliance Checklist/Timeline [created with assistance from TMS] (March 11, 2016)
- Podcast: NACUBO In Brief explores the history of the cash management revisions (November 13, 2015)
Banking on Campus
- Safe Student Account Toolkit (December 16, 2015, Consumer Financial Protection Bureau) Resources for selecting accounts that meet students' needs
- Student Refunds and Personal Banking at Colleges and Universities (October 2012) NACUBO conducted a survey about student debit card options on college and university campuses in July 2012.
- Safeguarding Student Finances: Guidance for Campuses Offering Student Debit Card Options. This is guidance NACUBO offered to campuses in December 2012, in response to the growth of campus-based banking options for students in recent years and to growing public interest in student debit card options.
