Dining Services: Currency for College Students Emily Pelton

What will we explore?  Definition of currency and other related terms  Meal plan options  “Declining balance” program at Gustavus  Why college dining service plans qualify as a currency

Definitions…  Currency  Credit card  Debit card

What are some meal plan options that colleges offer?  Traditional weekly meal plans  Block plans (semester)  “Flex” dollars  Outbound meals  Declining balance

What are some similarities between meal plan options?  Refunds  Food consumption options  Cost

Who uses what?  MSU-Mankato  St. Olaf  Carleton  St. Thomas  Augustana  Gustavus

What is the declining balance program at Gustavus?  Each semester, each student pays a given amount for a selected meal plan  Money enters an account in Dining Services  Balance is stored on a magnetic strip

 The balance on the card declines  In exchange for the money deposited at the beginning of the semester, the student receives food and service from the Dining Service personnel

Why is the declining balance program a currency?  Unit of exchange between students, faculty, and visitors  For the money deposited at the beginning of the semester, students receive an allotted amount money to use toward food and service, so in exchange for a given deposit, one receives goods and services.

What purpose does a “declining balance” program serve?  Student/patron satisfaction  Time  Food selection  Dining Service budget concerns  Food cost margin

Why does Gustavus have such a program?  Budget concerns  Consumption equality  Student demand

Questions?