A studious coffee lover fumbles through her wallet while juggling an iPod, purse, books and cell phone. With eight minutes until her next class and milk steamers and coffee grinders screaming, her crumpled dollar bills are buried in the confusion.

But a short year from now long lines at Espresso Royal may move a little faster with students swiping their i-cards for an afternoon pick me up.

The University is in the market for a financial institution that can bring its i-card functionality to the next level. Students will be able to link their i-cards to a checking account in order to bring them the convenience of a single card similar to the systems adopted by peer institutions.

Peter Newman, University director of treasury operations, explained that even though students could be using their i-cards at many locations, including those off campus, the transactions would be going through the financial institution and not be affiliated with the University.

“The student opens his or her checking account with the institution,” Newman said. “Then the student goes to the institution and signs up their i-card to function with their debit account.”

But this opt-in system is geared at being more than another debit card for college students. The University is requiring a few stipulations to the institution they give the contract. They want the institution to offer extended hours, possibly free online banking and bill payment, as well as some new options for international students.

The other stipulation is the University will limit the amount of direct credit card marketing towards students. With some faculty being concerned about rising student credit card debt, they hope this can provide some financial education for students, Newman said.

None of these options have been flushed out yet because the University is looking at what options these financial institutions can offer.

“There is an array of services we are looking for from this arrangement,” Newman said. “It’s not just about linking the i-card – we’re hoping to get some creative ways to educate people and some good services to international students.”

This system will be separate from the other functionality coming to the i-card, which is an “intra-university” debit system. Set to be implemented in phases over the next few years, students will be able to use their i-cards for many on campus transactions.

The University of Illinois’ Springfield campus has had this system in place since as early as 2001.

Steve Chrans, assistant vice chancellor at the Springfield campus, said the system has worked out great for students and faculty.

“Students use it for meal plans, campus cash at the bookstore, vending machines and laundry rooms,” Chranes said. “They don’t have to have any cash in their pockets. It’s completely cashless transactions.”

These transactions would be tracked through a University account that could only be spent on these types of on campus utilities.

Plans from financial institutions for the debit linking are due Oct. 24.

By December, the Office of Business and Financial Services will submit its recommendation to the Board of Trustees in hopes it will be approved at their January meeting.

Newman said he hopes that students will be able to sign up for this type of checking account during the spring and have an on-campus location up and running by mid-August.