Talking Stick - March/April 2009 - 28

speCial FoCus Anissa Arthenayake, director of community education for the Oregon State University Federal Credit Union in Corvallis, Oregon, speaks often to students about credit card debt. “I spoke in a residence hall last year about credit card debt; the difference between needs and wants is a big issue for college students.” Arthenayake is also in the process of developing a personal finance course for spring term, in conjunction with the dean of the College of Business and the associate director of the Austin Entrepreneurship Program at OSU. Many campuses – such as the University of Cincinnati in Ohio, Kent State University in Ohio, and St. Olaf College in Northfield, Minnesota – now offer courses that help educate students on the implications of debt. The courses focus on personal finance and cover topics such as income taxes, budgeting, and debt management principles for both loan debt and credit card debt. Some schools even require such a course for certain majors such as finance, but many students choose to take them simply to be informed. At Embry-Riddle Aeronautical University in Daytona Beach, Florida, all new students take a “University 101” course, and MANy cAMpuSES Now offER one section of it couRSES THAT HELp EDucATE requires attendance at a money STuDENTS oN THE IMpLIcATIoNS management of DEbT. THE couRSES focuS session. Kristen oN pERSoNAL fINANcE AND Getka, assistant coVER TopIcS SucH AS INcoME director of residence life, TAxES, buDgETINg, AND DEbT is one of the MANAgEMENT pRINcIpLES foR instructors for boTH LoAN DEbT AND cREDIT this class. “As instructors we are cARD DEbT. required to cover budgeting and loans during the course.” She adds that “even though this course is offered early in the year, it is effective.” Student groups are also getting involved in developing programs to help educate students about debt. At Texas State University-San Marcos, the Students in Free Enterprise (SIFE) conduct a program called “Dr. Debt” for the wHat’s in Your CreDit report? It’s difficult to shop these days without being offered a store credit card when you check out. With numerous offers from Old Navy to Sears, it’s not a bad idea to see what you’ve really signed up for each time you’ve gone to the register. Anissa Arthenayake, director of community education for Oregon State University Federal Credit Union in Corvallis, Oregon, recommends, “Check your credit report at least once a year. You can check your credit report for free every four months, and getting into the habit of looking at it once a year is good practice.” There are three main credit reporting agencies that you can check your credit report through, and they are all free: TransUnion, Experian, and Equifax. To check your credit report online go to www.annualcreditreport. com or call 1-877-322-8288. 2 Talking STick

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Talking Stick - March/April 2009

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