Thursday, August 16, 2007


Should the Feds Limit Student Credit?

David Oatney broaches an interesting topic over at his blog regarding Congressman Duncan's legislation that would limit the amount of credit that can be extended to college students.

My first gut reaction was in favor of Congressman Duncan's approach, as the thought of the average college student being able to handle a credit card with a sizable spending limit is truly frightening. However, I started to sour on the bill after reading some of the comments on David's post.

Is this a matter of personal responsibility? Are the students "prey?" Interesting questions, for sure.

Eventually, I have to come down against the bill, and I blame the education system (the same education system that has achieved fewer results with record budgets under President Bush) in America. College students should be able to handle credit cards. The problem is that we are sending thousands upon thousands of high school graduates to "schools of higher learning" who simply should not be there. College admission standards - as well as college curricula - are poor attempts at humor, only revered by those who probably should have attended a technical school or ventured straight into the work force.

I guess after some thought I have to side against this "nanny-statish" idea. People should be able to protect themselves from credit offers.

Labels: ,

People should be able to protect themselves from credit offers.

Yes, exactly. I get credit offers almost daily, and have for 20 years. Amazingly, though, I do not take the time to fill out the forms, drop them in the mailbox, wait for the card, use the card repeatedly and then "fall prey to" massive debt.
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?