Student accounts often come with fewer fees, but also lower interest rates. 

Answer: 100%

Questions: 

• Do you think there are ANY fees with "free" checking accounts? If so, can you think of any examples?
• Why do you think that so many banks offer "free" checking accounts to students?
• What do you think happens to the account fees after you leave school and no longer qualify for a student account?
  

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (WalletHub):

"Student checking accounts, which have the lowest fees on the deposit market, are 72% less expensive than their general-consumer counterparts. But lower fees come at a cost, as the interest rates offered to students are 87% lower than those available to the general-consumer population."

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Your students can learn to manage an online banking account using the INTERACTIVE: Online Bank Simulator

About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.