University of Wisconsin-Oshkosh officials on Monday defended a contract that allows students to use their college Ids to open accounts at U.S. Bank following a newspaper’s report that the university was promoting the bank’s services even though no other bank in the Oshkosh area charges students a higher overdraft fee for checking accounts.
University officials said the arrangement, which pays the university $15,000 plus royalty payments, generates revenue that helps pay for campus services.