The college years can be a wonderful time for young adults to learn more about themselves and discover what direction their lives should take. It is also can be a financially challenging time as students try to balance tuition, room and board, books and supplies, and related costs, often doing all of this while making little or no money.
Millions of students leave college in debt, with some finding themselves in the precarious position of being unable to pay their financial obligations, and wrecking their credit in the process.
Public Service Announcements – Capiche
Last month the Advertising Council (Ad Council), in partnership with the U.S. Department of Treasury, announced the launch of a new public service advertising (PSA) campaign which has been designed to encourage young adults between the ages of 18 and 24 to take control of their credit and personal finances. One of the spots related to the campaign, Capiche, is embedded within this article for your review. As with all Ad Council spots advertising space is donated by the media.
According to a study conducted by Sallie Mae, more than 50% of college students accumulate more than $5,000 in credit card debt while in school. Additionally, credit card issuer Capital One reported that only 10% of high schools in America teach financial management with 75% of graduating seniors not being able to understand basic investment principles.
Credit Can Help Us Meet Our Dreams Or Create A Nightmare
“When we are able to finance things like a home, a car, or a college education, credit can help us bring our dreams within reach,” said Dan Iannicola, Jr., Treasury Deputy Assistant Secretary for Financial Education. “But as we see in the headlines, those dreams can become financial nightmares if we don’t manage that credit carefully and wisely. We hope this campaign will meet a critical need, educating young adults on the importance of responsible, informed borrowing.”
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