As credit card debt has become a big issue for college students, a growing number of schools have created programs to teach students about the risks of taking on high-interest credit card debt. According to an article by Todd Abrams for Student.
Com, the majority of schools looking at the credit card issue are attempting a proactive approach. Instead of helping students who already owe creditors, schools are trying to help students keep themselves out of serious debt.
Interviewed for the on-line article, Linda Downing, the financial aid director at Rollins College in Winter Park, Florida, notes that she has seen the situation improve since Rollins began discussing credit card issues at freshman orientation. In particular, Downing is proud of the slightly different approach Rollins has taken, giving equal attention to educating parents as well as students.
She adds, “Part of our focus is to make sure parents are aware that this is something that is going to happen to their children—that they will receive mail and solicitation that will give them opportunities to have credit cards.”21 Campus bans on solicitation by credit card companies are increasingly common as well.
As of this writing, Northeastern University and Tufts University in Massachusetts, Widener University in Pennsylvania, and Rollins College in Florida had all banned credit card companies from soliciting on their campuses.