4 advantages to college checking accounts

ATLANTA - A college freshman is getting a first taste of real freedom. And with that comes the first taste of real responsibility.  And here's where mom and dad can help them one more time get something right. 

If they don't have a checking account yet, they'll get one. And student accounts can offer some goodies like no monthly fees and low overdraft charges. But, how do you find them?  Peak at NerdWallet. It's a free, online finance tool. 

Here's something you can try: Search "student checking" and you'll find a handy search page. I typed in Georgia State University's zip code then a few filters like "no monthly fees" and "reduced ATM fees." I wanted to make sure I could use a mobile app and not be charged too much if I overdraft. I found name after name of banks or credit unions that satisfy these requirements. 

Now here's a suggestion familiar to me and to many of you, but maybe not to college freshman. A check. Old-fashioned checks. Over at Delta Community Credit Union, they suggest students use them from time to time.  Here's why: Writing out, by hand, rather than one click makes a brain imprint. You are more likely to remember how you are spending your money. And that is a good habit to get into. 

But here's where you need to be cautious. A lot of time you'll see financial institutions that come to the school and try to sign you up.  Don't dip into a false sense of security because you see the school's logo on a debit card or a check.  Too often the school has a business relationship with that bank. It's a much criticized system because the banks pay for access to your name. The school makes money. It doesn't hurt to look at the deal being offered, but read the fine print to make sure it's really in your best interest.