Tremendous numbers of our children get themselves into financial problems even in high school and more yet find themselves deeply in debt in their early college years because.
predatory lenders invade college campuses all over the nation pressing credit cards on 1st year students even though they have no jobs, no income and 4 or more years of college left to go before they make any meaningful money. And then they will come out of college loaded with student loan debt which many will default on and be hounded to death for most of their adult lives over a debt burden which they can never escape from.
Another question that might easily come to one's mind is just exactly how bad is the .
situation. In order to gain some insight into the matter we will turn to the words of .
Oklahoma State Representative Joe Dorman who says that the problem is so bad that he has requested an interim study relating to predatory lending and the ease in which college students are able to acquire credit cards in this state. .
The emphasis of his study is to look at recommendations on how to use credit responsibly and to educate those Oklahomans who are new to credit opportunities, Dorman said. The legislative study also will analyze interest rates on a variety of loans available to consumers and determine if any fall under the predatory lending status.