Free Credit
Emily MurrayIssue date: 7/31/08 Section: News
The proposal has also received attention from local campuses.
"We see two sides to this issue," says Chuck Reinbold, a Maricopa Community Colleges spokesman. "While some might see a ban on campus solicitation as a way to slow down the process that causes students to sign credit card agreements, others would argue that a ban would simply change the venue under which financial institutions solicit student business."
Reinbold said that currently all prospective vendors must follow the guidelines set by the district. These regulations include the solicitor receiving approval from an official at the
particular campus they wish to set up at as well as the vendor being covered by commercial liability insurance if the purpose is to sell any product or service. The campus may apply restrictions on time, date and any other rule deemed
fit, solicitation may only take place at the designated table area and many other similar regulations.
But nowhere in these rules does it list that credit cards may not use incentives or free gifts to get students to sign up, not yet anyway.
"I am certainly committed to reading that bill every year that I am down here until it does pass," Ableser said. "It is only one small element on student credit but I think it is an important one and that's eliminating the predatory practices."
"We see two sides to this issue," says Chuck Reinbold, a Maricopa Community Colleges spokesman. "While some might see a ban on campus solicitation as a way to slow down the process that causes students to sign credit card agreements, others would argue that a ban would simply change the venue under which financial institutions solicit student business."
Reinbold said that currently all prospective vendors must follow the guidelines set by the district. These regulations include the solicitor receiving approval from an official at the
particular campus they wish to set up at as well as the vendor being covered by commercial liability insurance if the purpose is to sell any product or service. The campus may apply restrictions on time, date and any other rule deemed
fit, solicitation may only take place at the designated table area and many other similar regulations.
But nowhere in these rules does it list that credit cards may not use incentives or free gifts to get students to sign up, not yet anyway.
"I am certainly committed to reading that bill every year that I am down here until it does pass," Ableser said. "It is only one small element on student credit but I think it is an important one and that's eliminating the predatory practices."
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GHarri
posted 8/06/08 @ 9:17 AM MST
No one should graduate (or leave) with three maxed-out credit cards. That's a surefire disaster. But, getting and managing credit during college can also be part of the experience, if you handle it well. (Continued…)
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