Protection from credit cards with SUNY for students

There is one part of the Credit card Accountability, Responsibility and Disclosure (CARD) Act that is significant. This is the part that protects college students from charge card problems. It is becoming increasingly more expensive to go to college leaving many graduates with money lenders waiting to be paid and also credit card premiums that are high. Barriers were put up to protect student credit scores by the State University of New York system, or State University of New York, which is actually 68 campuses that network public universities.

SUNY does not approve of marketing

CNN explains that SUNY made it nearly extremely hard to market on any campuses that support SUNY. State Attorney General Mario Cuomo was in charge of this. Credit card companies can’t get advertised in SUNY schools. The only way for a student to get the data is via written consent. Schools aren’t permitted to get paid for this advertising. This standard is something Cuomo expects throughout all of New York. He thinks New York Universities should be adopting it. Marketing from charge card companies will be monitored. In fact, the university will make sure to control it.

Students get it without thinking

When in college, college students are in a vulnerable state. This is especially true when it comes to credit cards. Sallie Mae found that the average college student carries more than $4,000 in credit card debt upon graduation, on top of their unsecured loans to finance college. Some students focus on boosting credit scores by doing loan refinancing after school or just drop out to pay off the debts. Many employers check credit scores, and students that have had their credit rating shot by cards have to put off their dream jobs even longer as a result.

American Dream is not a dream anymore

The American Dream of going to college, getting a good job and making a start in this world is getting further out of reach for the middle class. The cost of tuition going up is making this harder.

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CNN Money

money.cnn.com/2010/09/07/pf/college/SUNY_credit_card/index.htm