With the new school year underway, and mindful of the fact that many economics students read this blog, let me repeat this periodic warning: Your econ profs are likely to offer you an “opportunity” to subscribe to the Wall Street Journal under the newly renamed Wall Street Journal University program. (I like to think, but of course do not know, that the renaming had something to do with the repeated warnings on this blog and elsewhere regarding the old Journal-in-Education program.)
I realize it’s implausible that a well-established institution like the Wall Street Journal would be running a credit card scam. Nevertheless, they are. When I subscribed through the old “Journal-in-Education” program, they tacked an extra $900 in phony charges onto my credit card bill. I called them repeatedly, they repeatedly acknowledged the “error” and promised to fix it, and, repeatedly, nothing happened. After a year, I got a refund for $450. After another year — and countless hours on the phone — I got an additional refund, still short of the entire amount. Most audaciously of all, they told me I could have the remainder of my refund if I agreed to attend a marketing event. They still have my money.
I am a long-time subscriber to the Journal and have never had these problems with subscriptions bought in the ordinary way. The Journal-in-Education, or Wall Street Journal University, or WSJ-Prof, or whatever else they’re calling it, program seems to be a separate entity that plays by its own tawdry rules. Don’t get mixed up with them.