Thursday, February 19, 2009
Colleges Are Supposed to Help Students Right?
It is no secret that with the growing financial woes of the nation, college students are taking a huge hit with debt and student loans. If you have been to a college sporting event recently, you may have noticed a bank or credit card company offering free merchandise at a table or tent. The merchandise is usually a t-shirt or mug with your favorite team's logo on it. As we all know, nothing comes for free though. These marketing ploys are trying to get students to sign up for credit cards.
Obviously credit card debt is the last thing a college student needs on top of loans. You may find it an evil ploy of credit card companies, but hold on. Maybe there is more than one source of this injustice. As it turns out many universities hold contracts with these credit card companies. In most cases, the more students that sign up for a credit card, the more money the university receives. In some cases, the school receives more money if the student carries a balance on these cards. So not only do schools allow these credit card companies permission to advertise on campus, but schools themselves often push students to get credit cards as well. I thought universities were supposed to educate their students, not double cross them. But I guess we can't forget, it's not personal, it's just business.
Be warned next time you are at a college sporting event and see advertising for free merchandise. Remember that nothing is free, especially in this economy.