June 05, 2009

Protecting teenagers and college students from the big, bad credit industry is an important part of the credit card reform law. But is a legal restriction really the best answer?Few could argue that it was ever a good idea for credit card companies to pitch their wares to college students who had little or no way to pay off card balances. And shame hasn’t been enough to convince many colleges and universities to give up the money credit card companies pay to make a sales pitch on campus.

So it’s been left to middle high schools, which in Oklahoma are required to educate students on the basics of finance. Schools have a lot of freedom in how to improve financial literacy among students. The requirement is a great opportunity for schools to get real with students. But never has there been a more appropriate time for parents to give their children a financial reality check.