An estimate of 33% of American high school seniors are now getting more and more inclined to credit card abuse because of the ease of applying and acquiring one.
People under the age of 25 are now the fastest-growing group of bankruptcy filers. College students reported having an average credit card debt of $2,169.
As an initiative to abate this credit card use dilemma, Kansas city lawyers and bankruptcy judges put up the Credit Abuse Resistance Education program (CARE). This program aims to make high school students avoid getting enslaved by their credit cards.
Students are encouraged to limit themselves to one credit card with a low credit limit, and to use credit cards for necessities, not “wants.” Students are also provided information on the costs of financing larger purchases, such as cars and electronics, and the traps to avoid in making larger purchases.
The program meets educational guidelines for Kansas and Missouri schools. High school teachers who wish to schedule a class presentation or learn more about the program should contact Carole Bozworth at the University of Missouri Extension Service at (816) 482-5862.
This is such a very commendable program that will not only make parents worry less on their kids credit card debts but may also help in making more financially responsible citizens.
via Kansas City Star
[image from Flickr uploaded by Brett L.]
1 comment so far ↓
[…] the younger generations. So it’s still important to know how to use credit cards wisely and programs aimed at educating people on using credit cards responsibly should be created if Chinese credit card companies will push through with their […]
Leave a Comment