Some observations from 30 years teaching in High School.
1. Parents are too busy making $$ to pay off their own credit cards to teach their children anything.
2. Students want to be taught about credit. They actually ask for the info. They are scared because they know they will be bombarded with lots of CC offers in college.
3. Most financial instruction in schools teach students to avoid credit cards.
4. The information found on this forum would never be taught in school because most people are just ignorant concerning the reality of credit and credit cards.
5. Teaching students about how FICO scores really work and how to improve scores is probably not taught in any High School in America.
6. Most teachers are ignorant of basic finances and how to properly use credit, so to have them teach about it is probably not wise.
7. If any one here wants to make some $$$ write a curriculum that incorporates the best knowledge from these forums and I am sure you could sell it nationwide. It would be a big seller if it was well written and conceived.
commonsense wrote:Some folks are worried about what they CCC's will do in response to the newly passed legislation in order to recoup predicted losses in revenue.I am not concerned what they will do either way. I am concerned for those who have CC debt they can't PIF.I have heard that some of the suburban schools in my area have started teaching"responsible credit" classes, they are mandatory like health class.I think that's what we may need to help people avoid the potential "trap" of credit cards through education at an early age.
I agree that credit education is a good idea, but it's not gonna solve all the problems any more than other mandatory classes (such as health class, driver's ed, civics, etc., etc.) do.
It all comes down to one thing when you get a cc, common sense.
Well, Ben Franklin did say the trouble with common sense is that it's not as common as it should be; this is just as true now as it was 240 years ago.