Following up on a long-running story, The New York Times recently reported some of the giant monster mega banks have been paying massive kickbacks to universities and alumni groups for the right to push debt to students.

The banks are buying lists of home addresses, phone numbers and other personal info so they can offer credit cards directly to young people. College students are the most profitable targets, and they have deep-pocketed parents who will step in and pick up the tab if necessary.

The banks are acting like bank robbers minus the gun, according to Clark. Nobody is worse than Bank of America, which has contracts with 700 schools and alumni groups. The New York Times says BoA paid $8.4 million in kickbacks to Michigan State for names, addresses and the right to use the university's logo in marketing materials.

The more students who get into debt, the larger the kickbacks become. This kind of behavior should be criminalized, Clark says. And shame on the schools for selling their own students down the river.

Students themselves are beginning to revolt. At Arizona State University, students set up booths on campus to warn incoming freshman away from this potential danger. Likewise, the student newspaper at Michigan State has run several editorials to raise awareness.

As always, a BoA rep is welcome to come on the show and explain why what they're doing isn't wrong. An explanation from state-supported universities that take the kickbacks would also be nice.

If you're the parent of a college-bound teen, you must educate your child about this issue. As an early alternative, try getting your high school junior a credit card with a low limit so you can monitor use and teach responsibility while they still live under your roof.