Campus Credit/Debt May Devour Your Child Warns Kingdom Financial Principles.
Moms and dads have entrusted college administrators with the future welfare of their children. But in recent decades a cold wind has swept across the campuses of America—the wave of industrial greed. Now, students are targets, sighted in by the unsympathetic scopes of financial giants.
Groton, VT – September 1, 2003 – Moms and dads have entrusted college administrators with the future welfare of their children. But in recent decades a cold wind has swept across the campuses of America—the wave of industrial greed. Now, students are targets, sighted in by the unsympathetic scopes of financial giants. These banking industries are plunging Americas next generation of adults into debt at an unprecedented rate. Credit cards offer both convenience and a sense of elevated status to students. But for too many—there is a dark side.
Many banking industries, struggling to find creative ways to stay afloat, have resorted to targeting impressionable college students as well as the financially frantic for their revenue generating programs. Some have likened them to predators poised to devour the financial potential of the students future. These banking industries that post enticing applications on campus bulletin boards and setup on-campus recruiters offering incentives for accepting credit, view the student as nothing other than a marketing strategy. The possibility of bringing the student to financial ruin is denied, but the results show otherwise.
What often begins with the student controlling credit ends with out-of-control credit enslaving the student. Students with at least one credit card (more than 70%) often end up with eight or more by graduation. For the average college student a credit card signifies greater independence as well as entrance on par with those peers who experience a more extravagant campus life.
The ability to flash a piece of plastic in front of your peers at a mall, concert, restaurant, or bar is equivalent to greater acceptance and that, to the student away from home for the first time, can be intoxicating. But the industry of credit continues to target the college student with more cards and periodic credit increases. What follows is a pattern where the student lives an inflated lifestyle without the resources to meet the debt. In the end, spiraling debt consumes the consumer while creditors set their sites on the next group of incoming freshmen.
The college experience earmarks the beginning of transition from the child that was to the adult that will emerge. Breaking forth from the family cocoon the child learns to spread her wings and, with unleashed potential, soar to new heights. But there are dangers along the way. Parents and high school counselors must endeavor to prepare our vulnerable children for the path ahead.
No longer can college administrators be entrusted with the great charge of insuring the highest goals of achievement for the student body. There are industries permeating the colleges and universities of our land. Their prime directive lays not in the future prosperity of emerging adults but rather in the acquisition of wealth. Predators offering gifts of prestige in the form of plastic money
Gene Jolley CFIC, Seminar Leader,having taught hundreds of people debt elimination concepts in seminar settings and one-on-one consultations. He takes particular pride in helping others eliminate their debt. Having applied these strategies in his own life, he teaches from a point of personal experience, not theory.
Contact:
Gene Jolley
Kingdom Financial Principles
877-584-0536
http://www.solongbills.com ;
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