De Moines Register
10-07-07
Students don't have experience, savvy to avoid spending temptations
Regarding "U of I, Iowa State Use Student Data to Sell Credit Cards" (Sept.
23): It is appalling and disappointing to learn that three powerful entities - Bank of
America, universities and alumni associations - have joined forces to take
advantage of the vulnerable population of college students.
This population has not had enough life experience to be savvy about money
management.
It has been reported in the media about the amount of debt that college
graduates incur, yet these three entities encourage college students to apply and
use credit cards, which can and will add to their debt load.
The student's right to privacy has also been discussed in the media, but Bank of
America is provided with a list of student and parent names and addresses so
they can be approached to apply for a credit card.
The fact that alumni associations benefit monetarily from the credit-card activity
is distressing. Don't universities and their alumni associations have a moral
responsibility to be concerned for the safety and welfare of college students?
Don't they have a responsibility to be role models for integrity and responsible
behavior?
- Rosemary Holland,
Des Moines.