Why Credit Companies Target College Students

Introduction This paper discusses why credit card companies should not market to college students .The culture of spending has become an important shaper of societal approach towards money and is now a widespread way of life in colleges.Advertising We will write a custom essay sample on Why Credit Companies Target College Students? specifically for you for only $16.05 $11/page Learn More In a bid to get more customers, the credit card companies target college students, and to do this, they employ assertive marketing techniques in order to attract students. College students have been raised in homes where money acquired through credit is used without inhibitions (Ritzer 1995).Since credit is available easily, students tend to overspend. College students now have easier access to credit than any earlier generations. However, the use of credit cards and the debts that is a consequence of cards have become an increasingly monetary threat to students. Todayâ €™s credit card companies are getting outrageously ridiculous with their marketing ideas and strategies. Many of their strategies are pointed towards people who are more likely to be irresponsible. The one strategy I would like to talk to you about and my opinion about it is credit card companies should not be on campus marketing to college students. Why credit companies target college students One point of view to this is that credit card companies target college students because many of them are young. Younger people are most likely naive and do not spend their money wisely. They would use a credit card for everything and maybe let the balance pile up and only pay the minimum. This would make the interest pile up and when they did pay their bill, most of the payment would be going towards the interest. This would be making the credit card companies more money. Another point of view would be that maybe credit card companies think that if people are smart enough to go to college that maybe they are really smart with their money and are completely in control of their financial status. Maybe the companies view it as a place to pick up some continuous valued customers. I got that point of view when I asked my mother to read what I was writing and that was her point of view! I do see her point of view as a valuable opinion and I enjoyed her criticism of the topic. But let me tell you some of the facts and things that I have learned while studying this argument.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In a report from trueCredit.com students graduate from collage while being indebted to credit companies for significant amounts This report further indicates that ten percent of undergraduates graduate with thousand of dollars as loans. After finishing your studies it’s a night mare for you to start thinking of paying debt to credit cards companies. It†™s more than enough for a twenty year old to think of how he will pay school loans, utilities and rent if he used them and how he will support himself in life. There will be bills to be paid every month and other additional debt, for example, car loan. That is already a lot of concerns that must handled by a young student. Prior to going to college, a student should employ some fundamental principles to avoid falling into the debt trap. These are some interesting facts I learned from an author named Latoya Irby. She was also interested in this argument. I learned a lot from her. Students who are in college are the main target of credit companies. This is so because of several rationales: They expect the credit accrued from the cards will be cleared by the student’s parents. Students face many years of clearing the debt. Companies go even further to give credit to students who have no security. For illustration, a student can have access to credit without any security being required. This proves that they are out for blood so to speak. They prey upon young people and try to get them hooked and sucked into the system. I think it is sad that this is allowed to go on, especially in a place where we go to better ourselves. Of all places a school is not a place that these types of things should be happening. Attitude of college students toward credit card usage The change of outlook towards money has become an essential means for the broadening of the college student’s consumer habits. Findings intimate that the resultant attitudes towards money: â€Å"power, prestige, distrust, and anxiety† (Yamauchi and Templer 1982) are linked to purchases that are compulsive, whereby the use of credit cards averages these correlations. Studies entailing a wide range of adult consumers revealed that approximately 1%-6% fall under the category of buyers that are compulsive. When Faber and O’Guinn’s (1992) â€Å"clinical screener for compulsi ve buying† is used to examine the respondents, 6% of questioned college students are deemed to use money for purchases out of compulsion. As a result, the indicators point to the need for an enhanced comprehension of the attitude towards making purchases of college students. Some factors, that include: psychological and socio-economic influences are the main contributors of the attitudes towards the use of credit cards. When buying trends of college students are analyzed, a sentimental attitude towards credit and gender were the main affecters of the students’ decision to use (or not use) credit for purchases.Advertising We will write a custom essay sample on Why Credit Companies Target College Students? specifically for you for only $16.05 $11/page Learn More This sentimental attitude towards credit affected how clothes, entertainment, gasoline, travel and food (that is not home made) were bought. Females made more purchases of clothes, wh ile males made more purchases of electronics and entertainment related goods. Females were found to have made purchases that followed the principles of economics more than males. Conclusion According to a press release statement of the American Consumer Federation, when the credit card debt and study loans of a student are added, the total is approximately $20,000. Consequently the debts of the student that has attended college may exceed those of the populace that has not attended collage which means that students who use credit cards will be burdened with severe financial concerns later on in life. This paper has discussed how credit accrued by students while still in college has significant consequences on their future monetary health. This paper concludes that credit companies should not market to college students, so as not induce students to undertake debts unnecessarily which would lead to a long-term financial burden. References Faber and O’Guinn. 1992. â€Å"A Clini cal Screener for Compulsive Buying†. Journal of Consumer Research, 19:459–469. Ritzer, G. 1995. Expressing America: A Critique of the Global Credit Card Society, Thousand Oaks , CA : Pine Forge Press. Yamauchi, K. and D. Templer 1982. â€Å"The Development of a Money Attitudes Scale†. 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How to Know If Teaching Is the Right Profession for You

How to Know If Teaching Is the Right Profession for You Teaching is one of the most rewarding careers that one can embark on. It is also one of the most stressful as demands and expectations are always changing. It takes a special person to handle everything that is thrown at teachers. Before making a life-changing decision, you need to be sure that teaching is the right profession for you. If the following five reasons ring true, then you are likely headed in the right direction. You Are Passionate About Young People If you are thinking about going into teaching for any other reason than this, you need to find another career. Teaching is difficult. Students can be difficult. Parents can be difficult. If you do not have an absolute passion for the young people that you teach, you will burn out quickly. Having a passion for the young people that you teach is what keeps a terrific teacher going. It is what drives them to spend long hours trying to figure out how to help those students who are struggling â€Å"get it.† That passion is the driving force behind doing your job year after year. If you do not have a total passion for your students, you might last a year or two, but you will not make it to year twenty-five. It is a must have quality for every good teacher. You Want to Make a Difference Teaching can be immensely rewarding, but you shouldn’t expect that reward to come easily. To make a real difference in a student’s life you have to be adept at reading people and figuring out their own unique preferences. Children of all ages can spot a phony quicker than any adult. If you are not there for the right reasons, they will certainly figure it out quickly. Teachers who are real with their students are the ones who make the most difference in their students’ lives because the students buy into what they are doing. Making the students believe that you are there to make a difference is something you have to show them over time. You Are Skilled at Instructing People in a Variety of Ways Students come from such diverse backgrounds that it is difficult to approach any two students in the same way. You have to be willing and able to teach the same concept through many different approaches, or you may not reach all your students. You will unquestionably not be an effective teacher if you only teach one way. A fantastic teacher is an evolving teacher. Teachers who search out better and new methods are the ones who will make it. Being flexible and adaptable are two key characteristics of a good teacher. It allows you to provide instruction in a variety of method that will meet all your students’ needs. You Are a Team Player If you are someone who does not work well with others, teaching is not the career for you. Teaching is all about relationships and not just the relationships with your students. You can be the greatest instructor in the world, and you limit yourself if you cannot effectively communicate with the parents of your students as well as your peers. Your peers can offer you so much information and advice that it is an absolute necessity be a team player who is willing to not only listen to advice but then to try to apply it to your teaching. If you cannot communicate well with parents, then you will not last long. Parents expect to know what is going on in their child’s life. You provide a large chunk of that information for parents of school-age children. A good teacher needs to be able to work with everyone involved in the school community. You Can Handle Stress Factors All teachers cope with stress. It is essential that you be able to handle everything thrown at you. There will be days when you are dealing with personal issues, and you have to overcome those once you walk through your classroom doors. You cannot let a difficult student get to you. You cannot allow a parent to dictate how you handle your class or a particular student. There are so many opportunities for stress within a classroom that an excellent teacher has to be able to handle it, or they will be burned out tremendously quick. If you cannot manage stress extremely well, then education may not be the right profession for you.