Putting our money where our bank is
By The Amherst Student editorial board, editorial
For many student employees, depositing a check at a bank in town causes anxiety and financial uncertainty. How many days will it take for the money to be deposited into the account? Will the check written yesterday bounce because there wasn't enough money? These are common concerns among college students strapped for cash; a simple solution is the option of direct deposit for student accounts.

The depositing of paychecks directly into the accounts of those on the College's payroll is an option that is already available to the faculty and staff. It should also be afforded to students.

We recognize the drawback that students are far more likely than are the faculty and staff to switch bank accounts-a situation that could complicate the payroll system-during their terms of study at the College. But a monetary penalty can be enforced and a charge or fee applied, if the student fails to notify the school.

For students who have bank accounts only at home, this option is especially appealing. Students would no longer have to remember to mail their checks home. The possibility that students will lose paychecks will also decrease, as would the obligation of the school to reissue checks that have gone void after sitting around in dorm rooms undeposited for months. Most importantly, it would be easier for students to pay bills knowing that their money would be in their accounts every payday. Students would not have to worry about the processing time between the actual deposit of the money and the appearance of the money in their account.

Of course, direct deposit should certainly not be mandated for every student worker. But it would be a wonderful option for many students to have. Students who are only employed once or only sporadically, for example, could decline the option in the name of simplicity for the payroll.

This coming summer, the College is looking to make various changes to the student payroll system. The direct deposit of paychecks for student employees should be a priority.

Issue 15, Submitted 2002-02-06 16:43:12