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About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (April 19, 2001)
Credit cards can ‘debt-o-nate’ student wallets ■ OSPIRG has begun a new campaign to keep students informed of credit dangers By Kara Cogswell Oregon Daily Emerald When Shannon Warren signed up for her first credit card two years ago, she never thought she would have a problem paying it off. “I’m a person who hates debt,” Warren said. “It gives me so much stress.” And until this year, the junior French major was careful to pay off her balance in full every month. But then she used her card to pay for a trip to Brazil, and since then, she has only been able to make the minimum payment each month. By the time she can pay off the entire bill, interest rates will have made the total payment much higher. Warren is not alone in her credit card woes. Through letters, phone calls and other promotional cam paigns, credit card companies spend a lot of time directing mar keting efforts at college students. And for many, the temptation of what seems to be “easy money” can be too much to resist. But OSPIRG warns that fine print can hide behind the free T-shirts and gifts offered to students when they apply for a card — and high interest rates can send students into a spiral of debt that can be hard to escape. And that’s why the Oregon Stu dent Public Interest Research Group, in conjunction with the na tional PIRG campaign, is working to raise students’ awareness about credit card debt. Credit card companies aggres sively market credit cards to college students, said Melissa Unger, state board chair for OSPIRG. “They target students because they know they’re more likely to go in to debt,” she said. Unger added that many students sign up for a credit card without fully understanding the terms of the agreement. Companies make the credit card’s terms seem more favorable than they actually are, she said, by advertising an intro ductory annual percentage rate or APR, which generally lasts only a few months. After this brief introductory peri od, the rates can increase dramati cally, Unger said. And because APRs can vary widely, it is impor tant to read the fine print on any credit card application. According to a report OSPIRG re leased earlier this year, regular APRs can range from 7.99 percent to 30.25 percent — and OSPIRG has recommended students look for an APR near or below 15.04 per cent. Students should be wary of any credit card offer they have not fully researched, Unger said. In addition to knowing the regular APR, it is important to know what the penal ty APR is — the higher interest rate a person is charged when a pay ment is missing or late. “Know the APR, know what the late fees are, read the fine print,” Unger said. Citibank spokeswoman Maria Mendler said her company has been marketing credit cards to col lege students for the past 20 years. The Internet has opened up more marketing avenues for companies to reach students. But Citibank’s credit card promotions aimed at college students are not deceptive, she said. “We want our customers to under stand the terms and conditions,” Mendler said. “We do believe credit education is important.” Consumer information about credit card debt is available on the company’s Web site, she said. In ad dition, the company makes avail able pamphlets on debt, along with card information at campus sign-up tables. Credit cards are safer than cash because they offer protection from theft and fraud, Mendler said. But students need to remember that they are as responsible for a credit card payment as they would be in a cash transaction. “Credit cards should be used as a form of payment, not as an exten sion of income,” Mendler said. Unger said she doubts credit ed ucation efforts by card companies have been sincere. “If they were sincere, they would encourage students to read the fine print,” she said. Instead, Unger said, credit card companies would prefer to leave students in the dark. At many cam pus promotions, there are no edu cational materials on credit debt available, she said, adding that she and other OSPIRG members would like to prohibit credit card compa nies from distributing promotional materials on campus without also handing out information on debt. Unger said she does not want to discourage students from using credit cards. She simply wants to make them aware of deceptive tac tics being used against them. “I’m not saying that credit cards are bad or not helpful,” she said. “I’m just saying that credit card companies are trying to take us for all that we’re worth.” For Warren, the consequences of her credit card use have been a mixed bag. Having a credit card has allowed her to travel and take advantage of opportunities she might not other wise have been able to afford, she said. But her credit card debt is also a constant source of worry — one she is anxious to erase. “My number one priority after I finish school is to pay off my credit card debt,” Warren said. “In the fu ture, I’m going to be much more careful.” Bend continued from page 1 Central Oregon a full range of courses offered by both universities. He said the University will con tinue to offer full bachelor’s degrees in the humanities in Bend and also provide an administrative licensure program that could lead to a mas ter’s in education. OSU Provost and Vice President Tim White said there had been “in numerable interactions” between the two universities in forming the implementation plans for the Bend campus and that he was quite pleased with the level of collabora tion. He said part of OSU’s plans has been the formation of a implementa tion counsel that White said he has invited several provosts from other universities to join. “I feel very good about our will ingness to cooperate and collabo rate,” he said. OSU has already compiled a de tailed implementation plan that out lines both the curriculum and ad ministration of the branch campus that will be named Oregon State University — Central Oregon. Several schools in the Oregon University System already offer courses at the Central Oregon Com munity College campus where the branch campus will be located, and White said OSU will work to retain those academic programs. “We wish to be as cooperative and collaborative as possible,” he said. OUS Chancellor Joe Cox said the implementation plan is well on its way and that he expects the board to be pleased with the discussion on Friday. He said there has been some ten sion in the planning stages, but that could be expected. “Is everyone going to be a happy camper?,” Cox said. “Probably not.” While Cox would not directly comment on the cooperation be tween the University and OSU, he did say that there will be a strong level of cooperation between the ac ademic programs that are already in place on the COCC campus. 20/30 continued from page 1 “It’s nice to be around people who understand our issues,” West erick said. “I have plenty of friends who are straight, but it’s not the same.” Because of the age demographic of the club, many University stu dents can take part in the social events. Jarvis said half of those at tending the first meeting were Uni versity students. Chicora Martin, director of the University Lesbian, Gay, Bisexual, and Transgender Educational and Support Services, said the social group is a healthy alternative to the bar scene. “I’ve, received a lot of positive comments from my staff about the group,” Martin said. “There are not a lot of opportunities outside of the bar scene, and this group provides events that don’t revolve around alcohol.” Martin said despite positive ef forts, youth at the University are still targeted because of their orien tation. She said this group provides a trust not found elsewhere. “It provides a safe space where like people can have conversa tions about issues concerning them,” Martin said. Jarvis stresses this is not specifi cally a support group, but a more laid-back social atmosphere. West erick agrees this is a good focus for the group. “The events provide more of a social arena rather than a support system,” Westerick said. Awards continued from page 1 years ago, Frank said. But, Frank added, he and other faculty members of the Honors Col lege are actively working to improve diversity within the program. Diversity affects everyone, no matter our race, our culture, our beliefs... Bola Majekobaje coordinator “The Zero Awards are an indica tion of what we once were, and not what we are,” Frank said. One way the Honors College is working to increase diversity in the department is by recruiting a more di verse student body. Out of next year’s incoming student body, Frank said, 17 percent are students of color. There are also plans to bring three faculty members of color from out side the Honors College to teach classes in the department next year, Frank said. Along with the Zero Awards, a “speak out” was held in the am phitheater so students could voice their opinions on diversity and polit ical activism on campus. During the “speak out,” Bola Ma jekobaje encouraged anyone interest ed to come up and take the micro phone. Majekobaje, one of the event’s coordinators, reminded stu dents that diversity is not an issue concerning one particular group. “Diversity affects everyone, no matter our race, our culture, our be liefs,” Majekobaje said. Dr. Edwin Coleman Conference events continue tonight at 7 p.m. with a debate on affirmative action, which will be held in the William W. Knight Law Center. Friday, the MCC will host a benefit dinner' to raise AIDS awareness, which will take place at 6 p.m. in the EMU Fir Room. Then at 7 p.m., ac tivists Amiri Baraka and Elaine Brown will present the conference’s keynote address in Columbia 150. 2000-2001 Zero Awards Honors College Political Science Economics Theatre Arts Geography Planning, Public Policy and Man agement Arts and Administration Landscape Architecture Germanic Languages School of Music School of Dance SOURCE: The Multicultural Center The MCC Presents The Dr. Edwin Coleman Conference: “Reawakening: Remembrance and the Radical Reality” April 18-22, 2001 Wednesday, April 18 "Speak Out"and "ZERO"Awards Johnson Hall & EMU Amphitheater/11 -3pm Holocaust Readings by JSU EMU Amphitheater/ All Night Thursday, April 19 Holocaust Readings Continued EMU Amphitheater/All Day Affirmative Action Debate Tim Wise & Dinesh D’Souza William W. Knight Law Center/7pm Friday, April 20 MCC AIDS Awareness Reception EMU Fir Room • 6pm Keynote Speakers • Amiri Baraka: Poet, Writer and Activist • Elaine Brown: Author and Activist Columbia 150 • 7pm Saturday, April 21 “Reach for Success: Higher Education Orientation for Oregon Middle School Students of Color” Campus/3pm Workshops on Saturday: • “Internal Racism” • “Activism and other Creative Processes” with Aya de Leon • “What Does White Have to do with Diversity?” with Tim McMahon Colsing Performance: • Aya de Leon: Poet and Actvist • Cristina: International Musician • Other Artists EMU Ball RoonrfBpm Sunday, April 22 Earth Day For More Information: Multicultural Center 346-4207 or 346-4321 eaf@darkwing.uoregon.edu suite 33 Erb Memorial Union University of Oregon Sponsored by: Career Center, Counseling Center, Housing Office, Women in Society, English Department, SARO, Journalism School, EMU Student Activities, President’s Fund, Student Life, Romance Languages, MEChA, APASU, KP T^-r
