University Business - February 2010 - (Page 7)

BEHIND the NEws Curtailing Credit Cards Student debt iS alwayS a topic of interest, especially now that the weak job market might make it harder for recent graduates to repay that debt. although student loans get most of the attention, credit cards are also cause for concern. eighty-four percent of undergraduates had at least one credit card in 2008, according to the Sallie Mae report “How undergraduate Students use credit cards” released in april 2009. the federal government took steps to protect students from “deceptive marketing tactics” used by credit card companies with the passage of the 2009 credit card accountability, Responsibility, and enterprise credibility Ad disclosure act, which goes into effect on studio #: Austin February 22. PDL-PUB-C72232 Job c#: client: Dell “the law is important for a variety for date: 1-14-2010 2:33 PM reasons,” says ed Mierzwinski, consumer file Name: program director c72232_pub-enterprisecred_tt_univat u.S. public interest Rebus_feb.indd search Group. “First, it requires verification Trim (hxW): 2.375” x 6.75” 206 EAST 9TH STREET bleed (hxW): None of ability to re-pay or a co-signer for young 19TH FLOOR safety (hxW): None AUSTIN, Txconsumers. this will limit the number of 78701 colors: 4-Color young people who1get3credit cards that they Page count: of ROuNd cannot Print scale: None it restricts marketafford. Second, last save date: 1-14-2010 ing on campus and, although2:30 PM the provision university business 2/1/2010 is not perfect, restricts free gifts that might entice consumers to take on excessive debt. third, it requires schools to report relation- U fINAl the connecticut law covers much of the same territory as the federal law, but also requires credit card issuers to offer debt education materials. “the University of Connecticut already has several of these [regulations] in place,” says spokesman Michael Kirk. “we will of course comply with the new regulations, as well.” uconn seniors can take a one-credit Senior year experience class, which covers life skills ranging from resume writing to ships with credit card companies; transpar- personal financial management. and when ency will improve the ability of researchers they are ready to get a Husky-emblazoned to analyze the impact of campus credit card credit card, the alumni association’s affinity partners page clearly states that revenue marketing.” “we will not be affected by the new fed- from the programs support the association. Notes: INSERTIONORDER Order#:T-10DET0035Media:TradeClient:DELL,INC.(D engagement Mgr: privateProduct:HIGHEREDUCATION(HED)ToPublisher:UNIVERSITYBUSINESS(00005733)PROFE institutions in connecticut are eral Lyndahl McConnell credit card marketing ART hAs restrictions on IMPORTANT: ThIs ONALMEDIAMEDIACOM4987THAVE,NEWYORK,NY10018OrderDate:01/08/2010 beeN checked ANd PROOfed not bound by the new state law, but are to students on campus,” says John J. King, sIgNed. fOR AccuRAcy by All Art director: ViceHenry president of Student affairs at Roger aware of it. “by our own choosing, we QuAlITy AssuRANce Signature Williams University (R.i.). “we do not do not have any credit card affiliations Production Mgr: allow credit card companies to solicit on our or allow for marketing on campus,” says Simira Davis ART dIRecTOR Signature campus, nor do we provide our students’ thomas c. pellegrino, associate vice presiProduction Artist: affairs and of stuThe fonts and related font software included with the attached electronic mechanical contact information to credit card compa- dent for studentProprietary Fonts”) and/ordean(“Y&R Licensed Fonts”) by The Youn owned (“Y&R licensed David Hanshaw eNgAgeMeNTfinancial MgR Signaturedents at Fairfield of Companies ULC. They the career part of our job order University. are provided to you as Rubicam Group nies for direct solicitation.” also, a your services, and are to be used only for the execution and the completion of this studio Mgr: order. You provides general guidancethe execution of the authorized Y&R in literacy component was added to the First planning office arethat any andtoalluse the of theProprietary Fonts Fonts shall be deleted f order provided copies Y&R Proprietary PROducTION MgR Signature Jay Orenstein to students aboutand destroyed upon completioneconomic warrant and repres your systems assessing their of this job order. You year experience Seminar in fall 2009. that you have secured the necessary licenses for the use of Y&R Licensed Fonts in orde execute our job order and More than a dozenPROducTION ARTIsT Signature states had similar future after graduation.will abide by the terms thereof. Regulations aside, it seems that credit laws in place prior to the federal legislation, connecticut and illinois being the most re- card marketing issues are on the minds of campus administrators. —Ann McClure T:6.75” cent additions. How DiD from weeks To Days? MEET your caMpus’ ExpEcTaTions and visiT dELL.coM/powEringcaMpusEs resulTs of aTmospHeric researcH Texas TecH acceleraTe T:2.375” universitybusiness.com February 2010 | 7 http://www.dELL.coM/powEringcaMpusEs http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - February 2010

University Business - February 2010
Contents
Editor’s Note
Behind the News
Viewpoint
Internet Technology
Independent Outlook
Universities Go to School
Leveraging Technology to Increase Enrollment, Capacity, and Revenues
Meet Me Online
College Index
Company Index
Advisory Board
What’s New
End Note

University Business - February 2010