Congress Takes Aim At Pricey Colleges
It’s estimated that 17 million students will arrive at college campuses across the nation this fall. Many will be the target of credit card marketing campaigns designed to get them to sign up for credit cards endorsed by their college, and many students will take lenders up on their offers.
As the saying goes, little kids=little problems, big kids=big problems! As college time approaches, we try to instill as much wisdom and knowledge we can in them, so as to ensure that they will make the best possible decisions for themselves, when we are not there to guide them. It is obvious that we must talk to them and warn them about being responsible when it comes to things like drugs, alcohol, sex, etc., but there is also a topic that not all parents discuss with their children before they send them off to college life.
This topic is becoming more and more crucial due to the condition of today’ economy. SBI Credit Card.com advises its readers, who are also parents, that they MUST have a talk to their kids about being financially resonsible, as what they do in the next few years could affect their lives in the years to come. You must especially educate them on the issue of signing up for credit cards in college. With all the credit card companies bombarding students as they enter college campuses to apply for a credit card, you need to teach your child what he/she needs to look for in terms of what is the best card out there. Perhaps, sit down with them and go to the various websites and see what they must look for when choosing a credit card. At that age, your child may view a credit card as an invitation to a shopping spree. You need to teach them that the credit card company will not be giving them money for free. They will just give them a longer time to pay, with the hopes that they can ultimately collect the full amount with exorbitant amounts of interest too. As a parent, you need to teach them what the results could be if even one late payment is made. It could affect their future when it comes to applying for a mortgage, buying a car, or even getting a job. Be a responsible parent by teaching your child how to be financially responsible.
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