Use of Credit Workshop – Jimmy`

Jimmy Edwards-Turner

All three students that stuck around until the end of the Use of Credit workshop, held last Tuesday in the Business Education Building, hailed it as informative and helpful.

The speaker, Heena Shah, a professional financial planner with the Financial Planning Association, sought to guide and inform the students on the proper use of credit.

“I want to teach them what’s up and make them aware of the things out there that could hurt [their credit],” Shah says.

She lectured on the impact of improper credit use, especially on college students. “Every year credit card delinquency in the student demographic increases, and new laws try to target this age group to get this issue under control.”

With only six students showing up and three staying until the end, Shah’s talk could be called a wasted endeavor but she declares that even if she spoke to one student she would still feel she had done a good thing.

Shah says she is appalled by the lack of financial awareness and general irresponsibility of students, which is why she visits college campuses and teaches them about the convoluted rules and policies of credit and credit law in the United States.

“Credit is used so loosely now that we have cultivated this credit card culture amongst adults as well as young people. So now there are kids amassing up to $20,000 in debt.”

Alejandra Novoa, psychology and English double major, was surprised to find out her credit score could be negatively affected by closing inactive bank accounts. “I didn’t know I could actually build on my credit history with an account I don’t even use.”

Shah wrapped up her talk with an admonishment to college students, stating they should have more interest invested in their finances and use of credit. She says the complex jargon intimidates people but with more awareness, students can take control of their financial lives.