PayPal is now offering student accounts with debit cards for ages 13 and up. If you are wanting to give your teen some freedom with boundaries, this might be just what you need! There are no fees (except if they accept money online from others). You can keep tabs on their spending, and there is no overdraft -because they can only spend what they have. Perhaps, this will be a great way to introduce your students to handling finances on their own. Check out all the details of this program at: https://student.paypal.com/us/cgi-bin/marketingweb?cmd=_render-content&content_ID=marketing_us/student_accounts.
This is a great thing. We are very fortunate to bank with USAA and they offer a prepaid spending card. Our kids have had one for years, it does make them understand finances.
Thanks for posting this.