Banks and colleges have teamed up to enslave college kids to debt. Students are enticed threatened and harassed to activate a credit card in the guise of a student I.D.
I know because I recently took college classes and to my amazement had to firmly choose "no" to many offers to activate the credit card portion of my I.D. card.
You will lose refunds if you don't activate your credit/debit card the prompts warned. It is easy and much faster if someone wants to send you money if you activate the credit card, you are told.
Finally after punching "no" several times, you are asked to give your name and address so the sponsoring bank can mail you a letter confirming you didn't want their credit card.
Can you imagine putting that kind of pressure and temptation on a kid fresh out of high school? Do you know what kind of debt students can acquire along with those student loans? What do you think will happen when all these college kids start defaulting on loans and massive credit card debts? And you know they will.
We are already a country in debt, our economy shattered, dollar devalued, gas prices climbing, and now banks are going after fresh meat. I think these higher learning institutions should be made to show common sense and responsibility. What can we do to stop greed? Let's all have that "financial responsibility" talk with a young person and help them to see there is a new form of slavery in America, and it's called "debt".