Persuading Students To Use Credit Cards And Financial Aid Responsibly

1240 words - 5 pages

Outline
THESIS: There is a growing number of students with credit card and student loan debt at Broward College. Not all of them are conscious of the fact that their debts continue to gain interest over the years and leaves the student in a precarious financial situation if left unchecked. The students need to be informed of the methods by which they can avoid or deal with student credit card or student loan debt.
I. Students at Broward College do not even realize they are incurring a continuing debt.
A. Students at Boward College are incurring debts even before they begin working and receiving a regular paycheck.
B. Students who become aware of their student loans and credit card debt develop a fear of not being able to pay back what they owe.
II. Students in debt regularly borrow money from different sources in order to pay off their education related expenses.
A. It has become increasingly harder to afford a regular college education.
B. The cost of a semester in college is often more than the amount the parents have set aside for the student's educational needs.
III. Broward College students realize they have a problem with student debt and credit card loans which is why some of them are seeking ways of getting out of debt.
A. Some students visit the college career office in order to device a payment scheme based upon future potential income
B. The students have considered loan consolidation even at this early point in their lives.
C. Other students have considered filing for bankruptcy in order to avoid paying for their debt.
IV. Conclusion
A. Most Broward College students realize that they need to pay off their debts soon after they graduate and get regular jobs.
B. Broward College must push their students who have debts to consider Debt Consolidation at the soonest possible time.

Persuading Students to Use Credit Cards and Financial Aid Responsibly
Do Students at Broward College Realize They are Incurring Credit Card and Financial Aid Debts?
Broward University has a fast growing population of college students, all of whom seek to complete their college education based on a combination of their parent's educational fund that was set aside for them, and student loans paired with credit card charges. Although this is not the ideal method by which a student should complete his tertiary education, the harsh reality of life is that it is currently the only way a serious college student can afford to pay for classes and educational needs required to complete his requirements for graduation.
As I interviewed my classmates and dorm mates about their debts, a common factor began to emerge. Most of them did not realize that they owed money and to whom. Emily (name changed for privacy reasons), is one of those students who did not realize that all the loan applications she was filling out online and receiving checks for would need to be paid for in the future. She owes around $10,000 to various lenders and institutions...

Find Another Essay On Persuading Students to Use Credit Cards and Financial Aid Responsibly

Credit Cards : Liberty And Debt, For All

639 words - 3 pages this country that can contribute to this wealth of unhappiness such as credit card abuse, excessive gambling, and lack of financial literacy.The recent inclination of credit card issue and use would most likely receive the most blame for financial failure. The average household credit card debt for Americans ranges from $8,000 to $14,500 , but can be as high as $30,000. One of the main problems with credit cards is that they can be as addictive

Credit Cards: A Blessing and A Curse

1902 words - 8 pages . Banks will refuse you money that you need, car dealers won’t want to sell you a car, and finding a house will be very difficult. Again, the common denominator of this problem is the credit card holder. If a person is not smart about purchases, they can land in a world of hurt and financial ruin. However, negative issues regarding credit cards are not always the buyers fault. An increasingly alarming problem with credit cards is identity theft

Credit and Debit Cards vs. Cash

711 words - 3 pages Over the last ten years people in the United State and around the world have heavily relied more on their debit or credit cards to process transactions of their purchases. In the old days it used to be when you would get your paycheck on Friday and rush to the bank during your break or lunch in order to cash withdraw your funds or deposit them into your account. It used to be where you carry cash to buy groceries, pay bills, and go shopping

Credit Cards and the Foreclosure Crisis

1535 words - 6 pages This economic turmoil started with home loans and the credit card industry. We have a generation that never understood how to use credit properly and we now have higher claims of bankruptcy than we have ever had as a nation. The recession started because our nation was growing too fast for itself, people were taking out loans for homes they could not afford and the banks were letting them. We also have had a huge credit issue lately; I have even

The Pros and Cons of Using Credit Cards and Debit Cards

3688 words - 15 pages you have deposited. Google also allows you to track your expenses via SMS or online. (BebaPay Home, n.d.). The objective of the study is to find the students’ perspective on credit cards and debit cards together with their advantages and disadvantages. This is done since most college students already own a debit or credit card which they use almost every day. It is also the objective of the study to answer the following questions: How

Use and abuse of credit.

1413 words - 6 pages $10,00023.264.090046.419.933.8$10,000 to $24,99950.856.91,20052.319.328.4$25,000 to $49,99973.258.21,70048.320.531.2$50,000 to $99,99989.655.92,40053.920.225.9$100,000 and more97.936.43,10072.013.814.11. Families include one-person units. 2. Among families having a balance.Source: Board of Governors of the Federal Reserve System, unpublished data. From Statistical Abstract of the U.S., 2001.Works Cited"Credit Card Use, 1989-1998." 5 May 2003 .Cambridge Consumer Credit Index. " Cards with Rewards." 5 May 2003 .Mae, Nellie. " Credit Card Debit for students." 5 May 2003 .

Societal Impacts of Implementing Chip Technology in Credit and Debit Cards

1721 words - 7 pages consumers $56.6 billion a year and the average cost for one financial crime investigation is around $15,000. The banks and businesses in USA have now started realizing that delays in transformation of credit cards technology is going to effect the US markets adversely and that they won’t be an exemption to it. During the course of my research on Societal Impacts, I have focused on consumers, business and banks. Societal Impact on Consumers

"Losing Ground" A paper on financial aid then and financail aid now.

825 words - 3 pages "Losing Ground" Many students cannot enroll in college due to the rising tuition. Low-income families are struggling to afford the school they want or need to go to. Financial aid is becoming more useful yet, the tuition rates are increasing which is making it harder for students to enroll and afford college or universities. Due to the increase in tuition for colleges and universities, more and more students cannot enroll. The low

Higher Education and Financial Aid from the Government

1671 words - 7 pages Going to school and trying to afford it can be a financially draining experience, and I know that from experience. Our government has made many relevant changes thus far to better support students, but much more can still be done. With rising tuition costs and not enough government aid, more and more students are forced to take out loans in order to pay for continuing education. These loans later become a huge financial burden, some totaling

The Failures and Solutions to foreign Aid

1441 words - 6 pages It is no mystery that today we live in a society in which some are less privileged than others. It is clear and apparent to us everyday when we see the homeless and the diseased. On an international scale, however, it is also an issue as we find countries with lower standards of living and conditions of suffering and turmoil. We see these situations on the news and hear of "developed" countries offering aid to assist and fix some of the issues

National Identity Cards and Citizens' Right to Privacy

785 words - 3 pages , whether from outside hackers or the thousands of insiders authorized to use it. What happens when the system goes down from a virus or any failure? Is America supposed to shut down until it's restored? This single national identity card then would become a very valuable document which gives a greater incentive for criminals to find ways to forge them. If cards become widely used and widely trusted, then the rewards for anyone who can find a

Similar Essays

The Negative Impact On College Students With Credit Cards

1311 words - 5 pages back. It is so sickening that the credit card companies go as far as approving students that can’t even meet the criteria. It’s as if these companies want the students to fail and struggle in life. You don’t need a job, a verifiable form of income, credit history or even someone else to sign on your paperwork to be eligible for a credit card. Maybe some of these students need to be taught about the use of cards before being eligible for them. If

Government Financial Aid For Students Should Not Be Based Solely On Merit

1776 words - 7 pages Scholarship money is a type of financial aid, awarded to students for their academic merit based on a mix of GPA, SAT scores, and class rank (How to get a scholarship 2011). Scholarship is not easy to get or apply nowadays as the requirements are high and based on the merit. The awards are almost always for top students. According to the statistic from The University of Virginia, 318 students applied for scholarships and only 83 are awarded

The Downside To Credit Cards Essay

824 words - 4 pages minimum payments. I started to feel ill about it and realized I needed help. I got into that mess because I just didn’t get it. I didn’t get what money was about, I didn’t understand it”(Harding). Most borrowers and consumers do not understand the true use of credit cards like Gemma. They do not try to look into the consequences of having a credit card and its real purpose. Far too often consumers get into debt because of their unawareness about this

Teenagers And Their Credit Cards Essay

1185 words - 5 pages Teenagers and their Credit Cards         Availability of credit cards have left young people in debt.  College-age students and low-income consumers, typically deemed bad risks, are easy targets for credit card companies.  Credit card companies should not target college-age students and low-income consumers because of their lack of financial stability.  In 1996, twenty-something consumers owed