Educate young adults concerning credit, and help them avoid bankruptcy later. Thats the main thrust of a new educational program that will build awareness, review pitfalls, and outline solutions to help young people between the ages of 18 and 24.
Millionaire Larry Chiang, founder of United College Marketing Services (UCMS), has donated $6,000,000 in an effort to reach 25,000,000 young people to save them from future financial peril. Live campus credit seminars will be sponsored by student organizations such as fraternities, sororities, resume-related activities, dorm housing, and pre-professional groups. Trained speakers, using previously unpublished information, will make 30-minute presentations, touching on the following:
–What it really means to have good credit.
–Strategies for shopping for the right credit card and staying debt free.
–Avoiding common pitfalls young adults fall into.
–Saving $1,500 to $2,000 on a new car loan.
–How loan officers evaluate candidates, and the scorecards they use to measure for credit worthiness.
At these presentations, students will receive a years supply of transaction recorders, a sheath that slips over a credit card on which they may record purchases and keep track of balances. A sample recorder is found at www.collegevisa.com. Also, the Web site www.college-visa.com summarizes credit tips and provides transaction recorders requests on-line.
With national credit delinquency rates at an all-time high, and bankruptcy rates higher than during the 1930s depression, now is the time to educate the next generation of consumers.