Bournemouth University is the first university in England to introduce the Spree Student Card, which allows users to only spend the total value of bursary payment pre-loaded onto the card – helping students avoid slipping into debt or expensive overdrafts.
Andrew Wright, Finance Operations Manager at Bournemouth University, said:
How does it work?
The scheme was launched to distribute money allocated from the National Scholarship Programme, which has also been match-funded by the university. The chip and pin cards will last for the four years that a student is registered with the university, with payments made termly.
Students also have access to a web portal where they can check their balance and find out about special offers being held by retailers.
The Student Cards can be used anywhere that accepts Mastercard®, but cannot be used for cash withdrawal, gambling or to pay for content on adult websites.
It is hoped that the cards will also be made available to scholarship students next year, and that payments will be made in nine monthly installments to further help students with budgeting.
The Students’ Union at Bournemouth University (SUBU) was involved in the process of procuring and introducing the cards. SUBU President Murray Simpson said:
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