Until recently, college students got credit card offers as soon as they got to campus, resulting in years of financial harm,long after graduation. College students often need financial help, and as the economy worsens, they rely more and more on credit cards.
Clemson University has only one credit card vendor on campus, Bank of America, but the bank sends most of their applications via mail. Clemson spokeswoman, Angela Nixon says they signed a contract with the bank. “We do get a percentage back based on usage of the card that people have and that goes to our alumni association,” says Nixon.
Brandolyn Pinkston, the Director of the Department of Consumer Affairs says there are concerns about credit card debt due to the lack of the students’ knowledge. “I know that some lenders see this as a golden market opportunity and for college, they might see this as a revenue source maybe at a time of declining public funding,” says Pinkston.
But The College of Charleston did away with the vendors eight years ago. Dean of Students, Jeri Cabot, says, “We became very concerned, as did the general population, actually, with the aggressive tactics employed by many credit card companies in trying to lure new customers in.”
Clemson University does have a financial education service on campus that helps students get themselves out of debt, and away from using credit cards. After numerous contacts, officials at the University of South Carolina did not offer a definitive answer about their student credit card practices.¼/p>