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The Boston Globe


Officials launch review of debit cards at college

Banks disburse financial aid; some attach fees

WASHINGTON — Federal officials and lawmakers have launched a broad review of the way hundreds of millions of dollars in federal aid for college are being funneled through banks and financial institutions, some of which charge an array of fees to students.

It has become increasingly common for colleges to allow banks to handle the disbursement of financial aid, which saves money for the schools. But consumer advocates and some members of Congress worry that the savings come at the expense of students.

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