Portland Observer, July 24, 1985, Page 7
Be wary of new "line of credit"
The approach is flattering, but
" y o u ’d bettery think twice before
accepting an offer o f a line o f credit
from any financial institution," cau
tions Alice M ills M orrow, Oregon
State University Extension family
economics specialist.
“ I f your income is over $20,000 a
year, chances are you’ ve received let
ters from large banks ‘ inviting’ you to
accept a personal credit line in amounts
from $2,000 to $25,000.’ ’ the special
ist explains.
The offer is made because " o f your
excellent credit rating" and "because
you're the kind o f customer we’d like
to do business w ith ." The offer "gives
you the authority to wnte your own
loons."
The comments arc "flattering and
make you feel good,” but Morrow
hastens to point out that most such
offers don’t mention interest rates or
explain you may be able to borrow the
same amount o f money clsewlere at
lower interest.
Inform ation about interest rates
and other important matters is con
tained in the agreement and disclosure
staement that must be sent to the
prospective borrower, she adds. This
statement is sometimes enclosed with
the “ invitation;” sometimes it is sent
after you accept the invitation.
Many banks are now actively pur
suing consumer loans because o f
slow demand in other loan areas.
Consumers, however, need to ap
proach such offers carefully, just as
they would any other indebtedness.
For instance, once the line o f credit
is activated, it w ill show on the con-
umer's credit report. "R ig h t now, this
might not prevent you from getting a
loan from another source, but i f the
credit market tightens, the credit
line could prevent you from being ac
cepted for credit from other sources,"
M orrow notes.
Examining all credit sources avail
able may mean the consumer can
find a similar amoung o f money at
less interest. M orrow continues.
“ Using a line o f credit is just like
using bank cards or retail credit
cards,” the specialist adds. "Rem em
ber, instant credit means instant
d e b t."
M orrow urges consumers to evalu
ate their economic position and tally
all their present consumer debt before
assuming more.
I f monthly consumer debt pay
ments exceed one-sixth o f monthly
take-home pay, "y o u should not be
assuming more consumer d e b t," she
believes. Consumer debt is the total
owed on installment purchases, credit
cards, etc. In fact, everything but
mortgage payments.
"A lw ays keep track o f how much
you owe and how much you’ re charg
in g ," Morrow emphasizes. "Evaluate
your economic position before you
activiate a new line o f consumer
credit."
Legislative changes
SALEM — Oregon's needy will
benefit from welfare program changes
made by the 1985 Legislature. The
major changes include an assistance
program fo r two-parent families,
more aid fo r the disabled, and medi
cal coverage for people who don’t
qualify for cash assistance. Some o f
the program changes w ill take effect
in 1986.
M ajor changes for the stae A dult
and Family Services Division, which
administers welfare programs, in
clude;
— A id to Families with Dependent
Children (A D C ): By February I,
1986, low-income families with two
parents may qualify for assistance,
which includes cash, medical coverage
and job-finding help. Presently, ADC
in Oregon only covers single-parent
families or families in which a parent
is disabled.
The change is a result o f Senate
Bill 350. A dult and Family Services
estimates about 11,000 families will
qualify for the program dunng
1986-87.
— Medically Needy: The present
program only covers children and
pregnant women who need medical
help. Starting in March 1986, the
state w ill provide medical coverage,
but no cash assistance, for other low-
income persons who don’t qualify for
welfare. To qualify, the person must
be aged, blind, disabled, or a parent
responsible for a child under age
18. Children in low-income families
PCC Anthony moves on
by Nathaniel Scott
John H. Anthony's administra
live skills guided Portland Commun
ity College (PCC) from a non-
existence community college ranking
to one o f the top three community
colleges in the nation, bids Portland
and PCC farewell in mid August.
Anthony, whose tenure as presi
dent o f PCC began in 1980, has ac
cept«! the position o f the founding
president o f Collins County Com
munity College in Collins County,
Texas.
Collins County sits in what is called
the Dallas/Forth W orth area. The
area's population is estimated to be
two million people.
Anthony is PCC’ s second president
and he began to move the college in
the computer science direction three
years ago In a recent interview, A n
thony spoke candidly about his days
at PCC and what he plans to do as
Collins County's founding president
He is excited about the opportunity
to build a school from scratch and
vowed to make it "th e best institution
in the country.” He intends to pro
ceed along the same lines in Texas
that won him the national reputation
he enjoys.
He said the geographical situation
in Collins County is similar to P ort
land Both are the center o f a highly
technological area and he intends to
move the school in that direction.
Under Anthony’s guidance PCC
became more than a two-year school
o f "basket weaving courses." PCC
ranks number one what we are doing
in the area o f economic development,
Anthony said.
Anthony's guidance also made
PCC Cascade one o f the school’s
focus points. The optical center and
the hub o f PCC’s electronics program
are located at Cascade campus.
Anthony said, " I enjoyed my
friends in the Black community. They
have been very helpful to me and I
tned to keep a commitment to a ffirm
ative action." He added that PCC
has doubled the number o f minorities
during the past five years.
Moreover, he said, “ I think we
have some absolutely outstanding
m inority faculty-members on our
staff.”
However, Anthony said he is not
"satisfied with our (PCC’s) record
but we have made strides.” A n
thony’s biggest disappointment is that
PCC has a better national and state
reputation than it does locally. “ We
even have some staff members who
don't know how good we a re ," he
added.
Anthony's contract with Collins
County is reported to be $95,000
per year. I t ’s a three-year renewable
contract, he said.
" I think I have developed a lot o f
friendships in Portland; I w ill miss the
people very m u ch ," Anthony said.
" I f I can replicate that kind o f sup
port in Texas, I ’ll be very happy.”
Anthony has recommended an
interim president and thinks vice
president Paul Williams and dean
Janies Van Dyke would be good can
didates to succeed him as college
president.
Nurse practitioners
Board of Directors
meeting
I he annual meeting o f the Board o f
Directors o f the North Portland Nurse
Practitioner Community Health Clinic-
w ill be held July 25, 1985, at the
North Northeast Community Mental
Health Center Adm inistration B uild
ing, 721 N.E. Union, at 6:30 p.m.
Die public is invited to attend.
The Nurse Practitioner C om m un
ity Health Clinic has served thousands
o f children since it opened it's doors
five years ago. The clientele is o f vari
ous cultural and ethnic origins, living
prim arily in North and Northeast
Portland. The clinic serves prim arily
children o f low-income families.
For more inform ation, phone
239-8871 or 222 9921.
also qualify. The individual's or
fam ily’s income cannot be more than
one-third higher than they would re
ceive on welfare; however, those with
large medical bills can deduct those
bills to reduce their income level.
A dult and Family Services expects
about 5,000 individuals a month to be
covered under the program as a result
o f House Bill 2031.
—General Assistance: Low-income
individuals or couples who are un
employable (not just unemployed)
are covered by this state program o f
cash and medical help. A dult and
Family Services w ill expand the pro
gram to include two groups o f indi
viduals. Those who have stabilized
and become employable but who need
continued medical treatment to re
main employable may receive limited
medical coverage and cash payments
for 90 days. And, individuals who are
age 60 and over w ill have their lack o f
education and work skills as well as
physical or mental limitatioas con
sidered in determining eligibility. The
expanded program w ill be phased in
starting in August 1985.
— Health insurance: Children in
welfare households w ill be covered by
their parents’ health insurance poli
cies, even i f the children don’ t live
with that parent. House Bill 2813 re
quires health insurance coverage o f
children a parent is obligated to pro
vide support for, whether the child
lives elsewhere or not.
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