College class about the credit score

[Anonymous]

Hi, is there any college classes (1 unit or more) anywhere that teach about the credit score? 

[Junejer]

There ought to be a full blown three or four credit class that teach the young people about credit, the credit scoring system and how money works in general. I truly believe that the university system is failing our young people in this regard.

Now, I can get off my soapbox.

[Anonymous]

You've found it -- and it's free! Welcome to myFICO University!

[fused]

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ByrdMan wrote:
There ought to be a full blown three or four credit class that teach the young people about credit, the credit scoring system and how money works in general. I truly believe that the university system is failing our young people in this regard.

Now, I can get off my soapbox.

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I say it's my job as a dad! And believe me, my daughter will get a lot more than 3-4 credit hours, she will get an ear-full from both mom and I for next two decades. lol

[haulingthescoreup]

I say it needs to be high-school level. There ought to be a required course for all high school juniors called Real World 101, involving credit, car and health insurance, marriage and divorce, banking, everyday law that affects young people (leases, DUI's, etc.), student loans, and voting. And probably a couple of zillion other things as well.

Although really, fused is right. It needs to come from parents. But how many of us were clueless until very recently?

[Junejer]

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@fused wrote:

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@Junejer wrote:

There ought to be a full blown three or four credit class that teach the young people about credit, the credit scoring system and how money works in general. I truly believe that the university system is failing our young people in this regard.

Now, I can get off my soapbox.

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I say it's my job as a dad! And believe me, my daughter will get a lot more than 3-4 credit hours, she will get an ear-full from both mom and I for next two decades. lol

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Fused, you are absolutely right. It is the parents' job. I started making my DD do my taxes at age 14 and have been teaching my children about financial management and the importance of credit. However, when I was first in banking, I can't count the times that a recent college grad came in for a loan and I had to turn them down, b/c even though that had a good, steady job, with a good income, they had messed up their credit in college and now realized the folly of their ways. I actually had a young lady tell me that she wished that there was a college course that would have taught her all about handling credit.

[Anonymous]

Yeah, sure it's the parents' job-- unless you're me, and your parents knew jack about credit, and both their parents are in the "in cash or by check" generation.

I got screwed 'cause my parents didn't know anything. My mom has my sister (17 years old) scared to DEATH of credit. I'm learning now, and I have to help my sister unlearn what she's learned from our mom burying her head in the sand, not learning, and having no accountability.

Just because it's the parents' job doesn't mean that the parents had all the necessary info to teach properly.

Seeinng that CO's cost taxpayer money, I'm very surprised that the govm't hasn't made that a requirement to graduate with a bachelors! I mean, how much was charged off in the last 10 years, I wonder? How much of that could have been prevented with information.

Seriously, if I'd had access to a class like that, I would be MUCH better off now. I had to wait out my entire 20's due to credit mistakes. Heck, if I even knew this much just 3 years ago, right after my divorce, I'd be in the 700's already.

I'm a fan of making this available in all colleges!!!

Of course, now, here in So. Cal, BofA is just giving credit away to illegal immigrants and keeping them in BofA debt slavery.... But that's another topic.

[sunrise]

LOL, Univ. of Myfico!!!  Where can I get my t-shirt?   

My children are 9 & 14, they both know about FICO scores!!  They also know that in order to have a decent life, they will need 2 scores to be really high......ACT & FICO!!!!

We, as parents owe it to our kids to explain all this to them.  Geez, I wish my parents had taught me about FICO scores!!  Unfortunately, I learned the hard way!!

[llecs]

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[haulingthescoreup]

ROFLMAO

And I'm sure you know that lots of times the professors are just one chapter ahead of the students in the textbook.

I really want the honor roll bumper sticker...