Students learn credit risks in TV’s ‘Money School’

Hundreds of students attended seminars on campus this fall on such topics as credit, savings, budgets and student loans.
Called “Money School,” the event was hosted by Emmy Award-winning broadcast journalist Tracy Davidson of Philadelphia’s NBC-TV10 and the Consumer Credit Counseling Service of the Delaware Valley (CCCSDV). It featured four one-hour sessions that included presentations and quizzes by CCCSDV counselors Valerie Klein and Alethia Calbeck on how and why students are lured into credit card debt traps, maintaining a personal budget, managing student loans and making smart financial decisions.
Using clickers, wireless keypads used to increase interactivity in the classroom, participants responded to questions and received sweatshirts for being first with the correct answer.

Davidson called the response “terrific,” adding that students “asked very good questions and we gave them useful information. They were asking about when they should pay their bills, how to obtain free credit reports and how to check their credit report for evidence of identity theft.” She said people with serious credit problems often say they didn’t learn important financial information in high school or college.

Fernando Gonzalez, AS ’11, said he learned a lot about managing credit cards and avoiding overspending.

“My mother is an accountant, so she has told me about this,” Gonzalez said at the event. “This is kind of a refresher, and it is very useful. Sometimes I’ve made bad choices and overspent, and now I know better.”

Denise Campbell, CHS ’09, said she had been thinking about getting a credit card, so she attended the seminar to learn more about credit and how it would affect her finances.

“I learned that I should take note of low interest rates and grace periods and to be careful about hidden fees,” Campbell said after attending a session. “It was very helpful to me. I didn’t know anything, but now I feel like I am a more informed consumer.”

The event was sponsored by UD’s Student Centers and cosponsored by the Student Government Association, Resident Students Association, Student Centers Programming Advisory Board, Inter-Fraternity Council and Pan-Hellenic Council.