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There’s an article I came across in USAToday called, “Credit cards go after college students.” This article describes how credit card companies are getting much more intentional about targeting college students.
This is no real surprise. I think college students have always been a target. The new found freedoms they have alongside the lack of financial discipline makes them a great target. According to this article 76% of college students have been directly marketed to with free give-aways. These range from free t-shirts, to pizza dinners and even iPod’s. Anything to get their attention and money.
Some companies have even partnered with Alumni groups and on campus organizations. Banks view it as a long term deal, hoping they will get those student’s business down the road if/when they purchase a home.
Regardless, many students are falling victim to their own lack of responsibility and discipline when it comes to money. If you haven’t taught on finances with your college students yet you must do that! This is a major issue, and one that can greatly hinder future ministry for them!
Two things. I recently wrote an article that gave some thoughts on the subject of finances. You can read that here. Secondly, if you’d like a general handout (that can serve as a template) walking someone through developing a personal budget, you can find that here. We have to walk our college-age friends through this subject. If they develop the discipline now, it can save a lot of heartache and truly be a part of furthering the gospel…
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Although I think any education is good education,but are you teaching students the reality of life. You can spend the time and effort teaching students fiscal responsibility, but what happens in emergencies; car repairs, injury and such.
This too can be the type of things that put a person into debt. And most students do not make the money the cover the bill.
The biggest issue is not students and their lack of responsibility, what about the responsiblity of corporations and their CEO’s? We are seeing more and more the corruption of corporate CEO’s and their actions are borderline criminal.
Who is teaching our banking and credit industry financial responsilbity and how can we expect students to be responsible when corporations are not. The responsibilty starts at the top.
We also should not put the burden on our youth. The burden needs to go on regulating corporations to keep from exploitations.