The Credit CARD Act of 2009 changed the rules of the game, but credit card companies are still paying colleges and alumni groups big bucks to market to their students.
The chart below shows how much money seven major universities and alumni organizations received from card issuers in 2010, according to a report from the Federal Reserve released June 30, 2011. It also shows the number of open card accounts as of Dec. 31, 2010, that were generated through each organization.
While the numbers below are high, they’re not as lucrative as they once were. The Fed’s report says that issuer payments to school groups dropped by more than $11 million from 2009 to 2010. The number of credit card accounts associated with these deals dropped 17 percent.
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