College

Podcast: A new way to eliminate student debt

Dan discusses America's $1.5 trillion of student debt, and a new model that eschews tuition in favor of repayments via a percentage of future salary. His guest is Austen Allred, co-founder and CEO of The Lambda School, which this year expects to educate 3,000 students via such income sharing agreements.

Go deeper: Lambda raises $30 million to battle student debt

CFPB report shows college-promoted bank accounts rip students off

Data: Consumer Financial Protection Bureau; Chart: Andrew Witherspoon/Axios

Very few people actually like their bank, which is quite likely to be the same bank they've had since college. This chart shows why that isn't going to change anytime soon.

The big picture: A CFPB report — written earlier this year and finally made public last week after Allied Progress obtained it through a Freedom of Information Act request — studies the fees levied by bank accounts held by college students. Roughly a third of them now attend schools where a single bank or credit union pays the college a fee to promote its products. If you attend a college that accepts such a deal, your average annual fee is $36.52, more than three times the average fee for students at colleges that don't accept paid account promotion.

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