Creditnet News Story
College offering students credit card education
Saturday, August 28, 2010
By Sam Lee
Many college-age consumers struggle with their finances, particularly if they have unwisely used a credit card. However, one college in South Carolina is now offering students a way to learn the ropes without putting their credit at risk.
According to a report from Myrtle Beach television station WMBF, students at Francis Marion University are being encouraged to join a new "financially fit club" this fall, which will help them learn smart financial practices. The organization will invite guest speakers from local financial institutions and other related businesses to talk to students about how they should be using their credit cards and managing their money.
The report said the college, which doesn't allow credit card issuers to market their products on campus, is becoming increasingly concerned for its students' financial wellbeing in light of a number of alarming statistics related to how much debt a freshman can accrue in just one year away from home.
One of the many provisions of the Credit Card Accountability, Responsibility and Disclosure Act limited access to credit cards for young people under the age of 21.
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