Over at the Des Moines Register, in a story called U of I, Iowa State use student data to sell credit cards, reporter Clark Kauffman describes in detail the relationship between Bank of America and the state's two largest universities, facilitated by go-between contracts with "private" alumni associations. Kauffman used open-records laws bolstered by a recent Iowa court decision holding that "private" foundations affiliated with "public" universities are themselves subject to open-records laws to pierce the veil of secrecy that has long-surrounded the contracts that govern all aspects of bank relationships with public universities -- sharing of student data, royalties (I call them kickbacks in the story) and details of credit card company marketing arrangements to students on campus.

The story highlights the exclusive campus credit card marketing deals that come with the contracts. While the big early money in these arrangements comes from profits on cards taken up by the vast pool of big-spending and financially-secure alumni involved in the plans, the longterm payoff for the banks is to become the first card in a young person's wallet.

The tawdrier aspects of campus credit card marketing -- and the effects on already-high student debt loads -- are of great concern to U.S. PIRG. With the support of the Ford Foundation, U.S. PIRG and its student PIRG chapters have recently launched a major truthaboutcredit.org project to change the way credit cards are marketed on college campuses. From the Des Moines Register: