TN House Votes to Ban Campus Credit Card Solicitations

Via Bubba. Outstanding. It’s appalling that universities would let credit card companies on campus to hand out credit cards to college students. Like tuition isn’t enough?

UT could lose about $500,000 in annual revenue because of the change. To keep that in perspective, if the parents of just UT Knoxville’s students paid an extra $20 a year, that would make up for it. $20 a year seems like a small price compared to the thousands of dollars in credit card bills that students (yours truly included) can graduate with.

14 Responses to TN House Votes to Ban Campus Credit Card Solicitations

  1. Thibodeaux says:

    Let’s not forget: college students, with very few exceptions, are adults. They’re old enough to vote, but not old enough to resist the lure of Eeeevil “Predatory Lending?”

  2. Les Jones says:

    I’m not saying that credit card companies shouldn’t be allowed to give college students a line of credit. I’m saying that the universities shouldn’t sell the credit card companies access to the students. Parents and students are paying enough for a college education. They don’t need the credit card bills.

  3. Thibodeaux says:

    I don’t see the connection between the school selling access, tuition costs, and credit card bills. Are you blaming the credit card bills on the school and the credit card companies?

    Maybe it’s just my mean old stony heart, but I don’t blame the lender for the borrower’s debt. Are credit card companies trying to squeeze every bit of profit they can out of their customers with their usurious interest rates? You bet. Speaking of greedy bastards on campus, have you glanced at prices in the bookstore lately?

    Now, I’ll allow it’s the state legislature’s job to oversee state schools. If they think credit card solicitation doesn’t contribute to an academic setting, fine and dandy. The fewer distractions the better. Maybe they’ll pull cable TV from the campus, too.

    But again, I say let’s remember that we’re talking about adults here, and if they’re not competent to make financial decisions by the time they’re in college, when are they going to be?

  4. Les Jones says:

    The students are adults, but the university has a conflict of interest here between lining their pockets with the credit card company’s money and essentially endorsing credit card use by students who can wind up thousands of dollars in debt before they even graduate.

    As an analogy, adults can gamble, and students have every right to legal gambling off-campus, but the university shouldn’t have slot machines on-campus.

  5. Thibodeaux says:

    I see where you’re coming from, but I don’t think it’s necessarily an endorsement of profligacy, nor do I see students as victims.

    But I’m a notorious meanie, so take it for what it’s worth.

  6. Chris Range says:

    Four years from now my oldest daughter will start college. Even though she will be an “adult”; I’d rather the school not give her any additional temptations over those absolutely necessary to earn a degree in a field which will be the diametrical opposite of her chosen career.

    I’ve already got to pay for that. Please don’t hold me up for more.

  7. Thibodeaux says:

    If I had a daughter about to start college, credit cards would about the last thing I’d be worrying about. Ok, maybe not the last, but it would certainly rank far behind, for example, drunken frat boys.

    I guess I just don’t get it. The college is not responsible for every bad decision the students take. Call me crazy: I don’t blame gun manufacturers when a murderer uses one of their products to shoot up a school yard, and I don’t blame credit card companies when young (or even not so young) adults use a credit card to build a mountain of debt. Neither do I blame the gun store on one hand nor the college on the other.

  8. Les Jones says:

    Thib: thing is, we’re not blaming the credit card companies. We’re just asking that colleges we send our kids to not provide temptations to our kids. When they do, the college is putting its financial interests ahead of our and our children’s financial interests.

  9. Thibodeaux says:

    First of all, these are not kids. They are adults. If they aren’t ready to make sound financial decisions, then why are we letting them vote? Second, if you don’t think they’re ready to encounter “temptation,” maybe they’re better off not going to college. They’re going to be exposed to a lot of other crazy stuff.

    Look, I don’t really care whether or not Visa is allowed to setup a booth in the student center. If they really wanted to sign up the college kids, they’d setup shop outside the discount beer and smokes store. No, what really disturbs me is the mindset that college students can’t think on their own and have to be shielded from “temptation.” I just don’t buy this.

  10. Thibodeaux says:

    Heh…on a side note, I just asked my wife if she had noticed a problem with her peers running up huge credit card debt when she was in school. She said, “No, but then it was Vanderbilt.”

    So I guess it’s all about your situation.

  11. Les Jones says:

    “No, what really disturbs me is the mindset that college students can’t think on their own and have to be shielded from “temptation.” I just don’t buy this.”

    What’s your position on on-campus liquor stores, on-campus casinos, and on-campus strip clubs? In each case, those are all fine by me off-campus, but when they’re on-campus the university is endorsing them to some degree and is certainly profiting from them, which goes back to that conflict of interest.

  12. Thibodeaux says:

    Fine with me. As it happens, Vanderbilt (if I may use that as an example again) has a “pub” in the student center that serves beer. A shocking endorsement, isn’t it?

    At any rate, if you’re going to play the consistency game, what’s YOUR position on the campus bookstore? I suspect there’s a tidy profit in those textbooks. Isn’t that a conflict of interest, and if so, shouldn’t it be done away with? What about the profit UT makes from its athletic programs? Quite a deal for the student-athletes, isn’t it?

  13. Les Jones says:

    Books are an integral part of the educational system, so no one objects to the bookstore per se. On the other hand, lots of us object to the prices and practices – there’s that conflict of interest again.

    Athetics for whatever reason is tied into academics, but once again it does create a financial conflict of interest that causes problems.

    Selling credit card companies access to students creates a conflict of interest, but credit cards aren’t integral to academics. If it’s a conflict of interest that’s easily avoided, why not avoid it?

  14. Thibodeaux says:

    It’s only a conflict of interest if the credit card companies are victimizing students, which I will not concede. And so we’re back to the beginning, and I’m sure everybody has had enough of me.