NEW YORK—Colleges, alumni associations and related groups were paid $83.5 million last year under agreements with credit card companies.
There were 1,004 such agreements in 2009, according to a Federal Reserve report released Monday.
The agreements vary, but may have been to issue cards bearing a school’s name or to allow issuers to market to the school’s students.
Under the agreements, schools and affiliated groups were generally paid for each account opened.
Full Story: Credit card issuers paid colleges $83.5 million – Boston.com
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