Are college students being ripped off by debit cards issued by their colleges? A new report says the answer, too often, is "yes".

FOX News Radio's Steve Taylor reports from Washington:

As many as 900 colleges and universities offer their students debit cards for on-campus transactions, including financial aid payments.

Those cards can carry hefty fees... Fees if you use the cards, fees if you don't, fees if you use the cards in the wrong ATM.

The watchdog Public Interest Research Group says nine million students go to schools that have deals with debit card companies. Often the companies share the collected fees with the colleges.

Students can opt out of the card systems, but many don't know it.

In Washington, Steve Taylor, FOX News Radio.

CLICK HERE to read the report by the Public Interest Research Group.