Don’t send your child to college clueless about credit
June 2, 2015
Credit Card Forum - If you’re sending your child off to college in the fall, that
last summer after high school graduation can fly by. It may not be enough time to
fit in all the life lessons you’d like to impart – but it’s important to make sure
your child isn’t naive about credit when he or she arrives on campus.
We asked some personal finance education experts which lessons they wish parents would
teach their kids before sending them off – and how you can teach them effectively.
A common misconception among young people is that all bills appear on credit reports
and feed into credit scores, says Angela Mazzolini, Accredited Financial Counselor®
and program director for Red to Black, a student financial education program at Texas
"They might think their phone bill or maybe their rent are going to show up on their
credit reports," Mazzolini says. "They think, 'I'm paying my bills on time, so that's
going to give me good credit.' "
Read the rest of Angela's advice.