KANSAN.COM / THE UNIVERSITY DAILY KANSAN / WEDNESDAY, JULY 7, 2010 / NEWS / 21
MONEY
New program to explain personal finance
BY RICHELLE BUSER
rbuser@kansan.com
Spencer King doesn't use a credit card.
"I'm not comfortable using one, so I refuse to get one," King, a law student from Kansas City, Kan., said. "I feel safer using debit, but I know I need to build up my credit. Some day I'll have to, but not today."
of the Kansas Union. The Financial Literacy Program will pilot in the fall and assist students through one-on-one sessions, class presentations, publications, student peer assistants and videos
planning for education, revealed that nearly one third of college
King isn't the only student with finances on his mind. A study of University students revealed that 82 percent of respondents would like more information about money, debt and credit card management. A new program from the Financial Literacy Task Force is aiming to do just that.
Working with students, the program will make the basics of financial responsibility more accessible, especially because of the program's location on the third floor
buying textbooks and other school supplies. Students also aren't shy about how many credit cards they
A study released in April by the Sallie Mae Foundation, a company dedicated to saving and
students are using credit cards to pay for tuition and 92 percent of students use credit cards when
Students using credit cards isn't necessarily bad, but the amount of debt many are racking up could cause serious financial problems in the future. Only 17 percent of
college students are paying off their balances each month,which is likely connected to the lack of financial education available to students.
Channing Payne, a senior from Wichita, said she thinks the University program could help students. She said she has friends who use credit cards for their life expenses, including shopping and eating out, but that they don't
always have enough money to pay their basic bills as well.
"If students knew about the program, I'm sure they'd use it," Payne said. "It's in a good location,
it's just important they're aware it exists."
The program is a collaboration between multiple groups on campus, including Student Senate, the School of Business, KU Memorial Unions and the Office of the Vice Provost for Student Success.