Teaching as an adjunct can be a lot of fun. It is also challenging. As I have encountered a number of situations, I realize such a blog can be helpful, both to me and to others.

Tuesday, April 15, 2008

Students And Credit

It is amazing to me the way college student view money, credit cards and the like. My father, for years talked about how credit card companies would prey off of college students. Armed with the knowledge of the short term benefits, many of them do not think at all about the long term consequences and the fact that they have to pay the money back. Many of them are doomed to poor credit and poor credit reports before they even get a start.

Often times when college students truly need the benefits, their credit is so poor, few people want to take a chance on them. This problem certainly can just get worse for the individual who may not have the opportunity to obtain things that they truly need later in life.

While students need to be cautious about adding more debt onto existing debt, for those who are truly in need of additional loans, there are companies that will lend people money, even if they have poor credit; bad credit loans do exist.

These loans also give individuals the opportunity to rebuild their credit, to get a good credit report. Bad credit credit cards do exists and can be helpful. Again, the burden is on the individual to make sure this is not just a way of getting further in-debt and getting an worse credit.

I truly hope that students can manage to avoid the trap.