week 7 ass (rough draft)

week 7 ass (rough draft) - Credit card companies And...

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Credit card companies And College Solicitation
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I believe it is absurd to allow credit card companies to solicit their products on a college campus. Allowing a credit card company to solicit to college students is really intolerable. First of all college students already have enough on their brain by being in college. To add credit card payments to that just doesn’t really seem to make sense to me. Financial budgeting isn’t something that a college student usually understands yet. A young college student is focused on school friends, maybe a partner, and what we’re doing at the end of the school day. Oh yeah, and we are broke. When credit card is issued to a jobless or part time worker, young and naive barely 20 year old, all they see are dollar signs. According to CNN “the average outstanding balance on undergraduate credit cards was $2,169 in 2005”, “according to student-loan provider Nellie Mae”. At this same site it was said that an average college student receives 4, yes 4 phone calls a month soliciting credit cards. It makes me worry when I can type in a Google search “college students and credit cards”, and ninety percent of the links are credit card applications. According to studentdoc.com, “A recent study by the National Center for Education Statistics (1) shows that about 50% of recent college graduate have student loans, with an average student loan debt of $10,000. The average cost of college increases at twice the rate of inflation; the College Board (2) estimates that public school costs an average of about $13,000 a year and private schools costs $28,000.
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This note was uploaded on 03/21/2011 for the course ETH 176 taught by Professor Loli during the Spring '11 term at AUP.

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week 7 ass (rough draft) - Credit card companies And...

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