Take Initiative To Educate Peers Against Credit Card Debt
Nov. 2, 1999 -- In response to rising concerns
about credit card mismanagement and debt incurred by college students,
a University of Virginia student group is launching an educational
campaign this week.
in Madison Houses Consumer Information Service will distribute
educational materials about credit card debt and financial management
to students over the next three weeks.
will mount a display of materials describing the dangers of easy
credit Nov. 1-5 in Newcomb Hall. They will also staff tables in
Newcomb Hall from 1 to 3 p.m. Nov. 8-12.
addition, the volunteers will staff a table on the Lawn from 10
a.m. to 5 p.m. on Friday, Nov. 12.
the exhibit and tables will be information describing the dangers
of consumer debt and where to go if experiencing financial trouble.
Members of the Consumer Information Service will ask students to
sign petitions saying that they will not sign up for more credit
want to warn students about the dangers of falling prey to plastic,"
said Jeffrey Shauer, program director of Consumer Information Services,
who noted that Virginia state legislators recently discussed a proposal
to ban credit card companies from soliciting on campuses after hearing
numerous stories of youth succumbing to free give-aways and unsolicited
appeals of credit card companies.
estimated 55 to 70 percent of college students own at least one
credit card, according to national studies. Between a third and
a half of the students dont pay their monthly credit card
balances in full and their debt averages from $580 to $725, according
to the studies. Many experts say that the percent of students gaining
cards is growing rapidly.
Consumer Information Service is one of 16 programs at Madison House,
the student volunteer center at U.Va.
more information on the Consumer Information Service campaign, call
Jeff Shauer or Gala Wan, CIS program directors, at Madison House
at (804) 977-7051. Shauer can also be reached at email@example.com.
Ida Lee Wootten, (804) 924-6857