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Show National Campus Mews : Student Credit: Easy To Get, But At What Cost? for excellent student loan check arrives, but the money always seems to run out before books are bought and fees are paid. No problem. Charge them. An outfit thats perfect for a weekend date is on sale, but its still just out of (CPS)-T- he spending range. Charge it The car breaks down. In needs a new gizmo. Charge it In the college world of the 1990s, students are equipped with more than moms chocolate chip cookies and clean sheets when they arrive on campus. Most have discovered that they shouldnt leave home without a major credit card. Weve found that students go on to be some of our best customers, said Gail Wasserman, American Express public affairs manager. They perform no differently than our other chargeholders. College Track Inc., a New York research firm specializing in the college financial market, estimated that about 68 percent of undergraduates possess a general credit card, according to March 1991 figures. An estimated 4 million students are cardholders, according to estimates by banks, card companies and Credit Card News, a trade magazine. Figures from June 1990 show thatabout40 percent ofall students own a specialized credit card such as department store and gas cards. The 68 percent shows a 7 percent increase since 1988, and College Track vice president Jim Knepper said that increase is almost exclusively because of the marketing push by creditors. Although 7 percent may not sound like a lot, that figure represents an increase of 1.3 million people, according to Credit Card News. Some of the most common cards held by students are Discover, Visa, Mastercard and American Express. What we did about a year ago was start a nationwide direct-mailin- g campaign and a Take One display campaign for students, said Amy Sudol, spokeswoman for Chase Manhattan Bank, one of the largest student Visa and Mastercard creditors na mm move tionwide. It was an Chase to expand into the student market. We made credit available when people need it most. Chase isnt the only one. American Express has enticed students fora couple of years now with a bonus fora card membership airplane ticket vouchers that give students significantly discounted airfare rates. We figure students travel a great deal so this is a way of giving them a benefit based on their lifestyle, Wasserman said. Most of the credit and charge corporations offer students the same card benefits that other members receive, such as purchase protection, extended warranties and insurance on rental cars. In addition, Chase, American Express and others also send student cardholders quarterly magazines and other publications that give them credit and money manage- - ment tips. In school, youre learning to budget a lot of things - time, expenses and credit -for the first time. We think American Express is a good first card because its a system, Wasserman said. American Express charges cardholders an annual fee of $55 to have the card and members avoid paying interest by paying their entire balance at the end of the month. Visa, Discover and Mastercard sometimes charge a smaller annual fee, but they always offer cardholders the option of paying off their balance at their own pace at a varied monthly interest rate. The rate is currently estimated at" 18 to 20 percent. Students have been very, responsible users of credit, Sudol said. Not. only have students proved to be a stable short-tercreditrisk while in school, students also tend to pay off in the long run. Students, as they come out of school, will be making more money, Knepper said. If companies can influence them now, they will most likely have a customer for life. College Track estimates a students monthly average bill at $94. Knepper said students have the same approximate default rate on credit cards as other adults. Still, some worry about the temptation pay-as-you-- go . w iXtUftTi iNlii 4k' ivM'H SSflP'Sftt $ itWi H III 1 1 I Ktvt 1 1 11K KKtUg 11 HH 1 WN iiraau tom wi i'OorHixMMOiitKeiwivm'o litjiViHiU tern? cifcfHlite ifcHHf'iW tOJKi Ww4 Times. Sierra and Wargo are not alone. Paul Ebert, president of the Consumer Credit Counseling Services (CCCS) of Central Ohio, said although the number of students in credit trouble isn't unusually high, some do encounter difficulties. CCCS of Central Ohio is part of the National Foundation for Consumer Credit, which helps people solve debt problems, provides counseling and can establish debt repayment plans between people and their creditors. The service is available nationwide except in Wisconsin, which is currently working on establishing offices. Having credit takes a lot of Ebert said. Students dont have the substantial funds to pay cards off when they load them up. For students, the emergency aspect is what you need a credit card for not for daily expenses. Its tempting to use it for tuition, books, groceries, clothes ... but you will pay for yesterdays sins tomorrow. self-contr- Network On Target For "Into The Streets" continued from Page 2 event that we could attend and use to formulate our own activities, said Vannoy. ered there will be available at a later time. The concept of a single network was brought to Westminster by Wagstaff, who had taken part in the same movement before transferring here from the University of Utah. Last August, he attended a statewide conference sponsored by the Bennion Center at the U and the Campus Opportunity Outreach League (COOL), and met Moran. Together, they have worked to bring the idea to Westminster. We started a program, he said. The U of U is the hub for Utah, coordinating various service organizations already in existence as satellites around a central service focus. Some future projects could include cleaning paries, painting the homes of indigent people or even sorting food at food banks. Id like to open it up for a real broad range of functions, Wagstaff said. The next meeting to further define the parameters of the network will be Oct. 16 at 4: 15p.m. in Converse 4. Its important to have differentbackgrounds involved, or at least to give input, said Wagstaff. us B-1- 4itii 4.tr tMIMi ol, - hub-camp- W ISM Adult Children of Alcoholics first-tim-e m ctoMjMai Ml cardholders face. Many students offer testimony to back-u- p those concerns. The Ohio State Daily Lantern quoted senior Mary Ann Wargo as saying: I used acreditcardformy tuition, and then my car broke down and I had to use another card. Next I started buying clothes, and now my credit is up to the limit. Wargo owed about $1,500. University of Maine student Tony Sierra wound up owing $2,400 on his Visa and Discover cards. I told myself Id be rational with the cards, but then you start to think of it as a layaway. You get what you want and pay for it later, Sierra told the New York Heres To Your Health Self-Te- st Please check the answer below that best describes your feelings, behavior and experiences related to a parent's alcohol use. Take your time and be as accurate as possible. Answer all 20 questions by checking "yes" or "no." YES NO QUESTION 1. Have you ever thought that one of your parents had a drinking problem? 2. Have you ever lost sleep because of a parents drinking? 3. Did you ever encourage one of your parents to stop drinking? 4. Did you ever feel alone, scared, nervous, angry or frustrated because a parent was not able to stop drinking? 5. Did you ever argue or fight with a parent when he or she was drinking? 6. Did you ever threaten to run away from home because of a parents drinking? 7. Has a parent ever yelled at or hit you or other family members when drinking? 8. Have you heard your parents fight when one of them was drunk? 9. Did you ever protect another family member from a parent who was drinking? 10. Did you ever feel like hiding or emptying a parents bottle of liquoi? 11. Do many of your thoughts revolve around a problem drinking parent or difficulties that arise because of his or her drinking? 12. Did you ever wish that a parent would stop drinking? 13. Did you ever feel responsible for and guilty about a parents drinking? 14. Did you ever fear that your parents would get divorced due to alcohol misuse? 15. Have you ever withdrawn from and avoided outside activities and friends because of embarrassment and shame over a parents drinking? 16. Did you ever feel caught in the middle of an argument or fight between a problem drinking parent and your other parent? 17. Did you ever feel that you made a parent drink alcohol? 18. Have you ever felt that a problem drinking parent did not really love you? 19. Did you ever resent a parents drinking? 20. Have you ever worried about a parents health because of his or her alcohol use? If you have more than five yes answers, you may be ACOA or have related issues that may need talked about. Ginny Mead, coordinator of the alcohol and drug prevention and education program on campus, holds an MS. in educational psychology and is the leader of ACOA Support Group on campus. These groups are conducted with complete confidentiality, and anyone on campus is invited to attend. Tofind out about the support group or to obtain more information about ACOA and codependency 'issues, contact Ginny Mead in Shaw 110, ex.144. ForumPage 5 |