College-Sponsored Bank Accounts Are Charging Students Millions in Fees Banks recommended by universities are raking in fees from students, The report reviewed 573 colleges who have marketing agreements with <br />certain banks. Through their college's provider, <br />1.3 million students had open and active bank accounts. During the 2016-2017 academic year, these students paid a shocking $27 million <br />in fees. That includes overdraft and<br />penalty charges. The Education Department under the Trump administration never published the report. The report was made public through a Freedom of Information <br />Act request.
