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Example research essay topic: Credit Card Companies Credit Cards - 1,113 words

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Credit card debt and college students seem like now a day go hand in hand. There are a lot of ways that they get kids to get credit cards. They have credit issuers go to colleges, they send you pre approved credit applications in the mail, and through advertising. There are many of ways that credit card companies try and lure kids or college students into getting credit cards.

When most kids get credit cards they can not handle them. They go out and buy stuff they dont need or cannot afford. That is why a lot of people want to set a higher age limit on young adults or college students getting credit cards. Credit card debt and college students are a problem and we need to find a way to educate or to not give them credit cards. A Rite of Passage In the modern world if you dont have a credit card you cannot get a lot of things. Try renting a car without having a credit card.

Or try getting a cell phone or a new car without credit. In fact, youll have a hard time beginning adulthood without borrowing: most college students cite establishing a good credit history as their reason for getting cards (Poniewozik 44). It does not work because everybody looks at your credit report. What makes a Manor a Woman America today: debt (Poniewozik 44).

Now days since the making of the Child online Protection Act of 1998 in order to view adult material you have to show proof that you are an adult. The only acceptable form of proof is a credit- or debit-card number. Two-Thirds of college students alone carry some form of plastic (Poniewozik 44). That is a lot of college students and a lot of debt. Credit Problems in College Follow Students after Graduation In fact most college students start their working days out in the red. The average college student has more than $ 2200 of revolving credit card debt, and twenty percent of student credit card holders carry more than $ 10, 000 of revolving debt (Fairfield 4).

This is a major cause of depression among students, which affects study habits and academic performance. A lot of college students use their financial aid insider to pay their credit card debts off. Learning to use credit cards wisely is something that college students need to learn. Student with a lot of credit debt have to get multiple part time jobs in order to pay back the credit companies which can affect academic performance. Education and Training Programs, Inc. has joined with Robert Manning, Ph.

D. , to produce The Power of Plastic, an on-campus educational program designed to teach students how to handle credit (Fairfield 4). A lot of parents are starting to hold school responsible for teaching their kids about responsible use of credit. Which is a good idea if colleges let credit card companies on their campus then there should me something to teach student how to manage a credit card. Graduate professional schools and employers are beginning to reject applicants based on a bad credit record during college (Fairfield 5). On-Campus Creditors Lots of schools try and keep on-campus creditors off but, there are a few that get paid to allow creditors on campus.

Credit researcher Robert Manning estimates that 1500 of the nations approximately 3, 200 four-year colleges have banned or restricted on-campus credit-card solicitations (Dinner 13). This shows that at least some colleges are trying to get rid of creditors but they use fake document to get access or fake names. A tougher stance on creditors comes from too many students getting into too much financial trouble with credit cards. Campuses are far more likely to sponsor programs on sexually transmitted diseases than on managing finances (McMurtrie 44). Which shows how little interest there is in trying to eliminate the problem. Which is appalling considering that if a student gets a lot of debt then they will have to drop out and then the college is losing money.

Institutions that allow the companies to use the college logo typically get a percentage of every charge made on those accounts, ranging form one-fourth to three-fourths of a point (McMurtrie 45). Colleges often profit from relationships with credit-card companies. Visa, MasterCard, and other card providers sponsor college programs, finance student activities, and even rent space on campuses to offer their services to students. Neglecting Academic Work Like I mentioned earlier if a student gets in debt they will have to get a job and then their academic work will faultier. Working multiple jobs in order to pay down debt can also lead to loss of scholarship, and impact graduation and retention rates. Peer pressure and the high cost of education add to the appeal of credit cards (McMurtrie 44).

Using a credit card to pay for school is on the rise. Then while paying off those credit cards you neglected your academic work or you may even have to drop out. For someone in deep debt they may have to fill bankruptcy, or turn to your parent for help. Some students might stay afloat by using student loans to pay off their debt. This is a major problem the credit card sign-up tale is as common an introduction into campus life as the root-beer-schnapps hangover (Poniewozik 44). The government has even recognized that there is a problem with college students and debt.

It is trying to fight to have creditors not allowed on campuses. Congress was considering a proposal that would allow credit cards to go to people under 21 only if they were financially independent or had parental approval (McMurtrie 44). That would be a good idea because by the time you turn twenty-one you have a level of responsibility. If your parents had to sign for it than you would be a little more careful because the card could hurt them too. Credit Companies MasterCard points out that 59 % of students pay their balances in full each month, compared with 40 % of the general population (Poniewozik 45). Card companies are responding to concerns over student debt.

Citibank sponsors a website (credit-ed. citibank. com), where students can get answers to questions frequently asked about personal finance. MasterCard International makes its Money talks brochures on money management available during college freshman orientations.

The booklet is aimed at starting a dialogue between parents and students and can be ordered free from MasterCard at 1 - 800 - 821 - 6176. Visa, and American Express have sites dedicated to college students packed with financial tips and information. You cant manage credit if you cant manage money, ...


Free research essays on topics related to: academic performance, good idea, college students, credit card companies, credit cards

Research essay sample on Credit Card Companies Credit Cards

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