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Credit Card Debt - Essay Example

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Summary
A. Attention: Last semester, 20 year-old Leesa was a 4.0 student on a full scholarship and an active participant in campus activities. This semester, Leesa struggles to make it to class, has been placed on academic probation, and is losing her financial support…
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Credit Card Debt
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Download file to see previous pages b. The risk is even greater for women where financial problems are a leading cause of suicide (Khaitova).
2. Faced with a future and no education, the problems continue to escalate.
a. Medical expenses and mounting health insurance costs drain your marginal income.
b. Prospective employers may be reluctant to hire you due to your poor credit rating putting you further into an inescapable position ("Guess Who's Looking").
Transition: Now that we know the dangers posed by credit card debt, let's look at a way to eliminate the problem.
C. Students who desire a credit card should complete a course in credit management before applying for a credit card.
1. Young students who have never been exposed to credit should be taught how to read the fine print.
a. Credit applicants should understand the basic terms used with credit such as early payment penalty, variable APR, and flexible due dating.
b. Credit card holders need to be aware that one missed payment can result in their interest rate escalating from 2% to 20% on all their cards.
2. We require a licensee for driving, fishing, and bartending and using credit should be no different.
a. Misused credit can be as dangerous as an automobile.
b. Credit education would help protect this at risk group from a lifetime of grief.
Transition: Now let's take a look at what we've discussed and see how you can apply it to your own situation.
III Conclusion
A. Summary: I've demonstrated the negative effects that out of control credit can have on a student's academic performance and their health. It can be a problem that has the potential to escalate into a lifetime of agony.
B: Final Appeal: A credit card can be a blessing if you need emergency automobile repair. It can also be a curse if the user doesn't...
C. Preview: What I'm going to present to you in the next few minutes could save you from a lifetime of misery. I will make you aware of the credit card trap with its fine print and show you how to avoid the pitfalls of its seductive lure.
A. Summary: I've demonstrated the negative effects that out of control credit can have on a student's academic performance and their health. It can be a problem that has the potential to escalate into a lifetime of agony.
B: Final Appeal: A credit card can be a blessing if you need emergency automobile repair. It can also be a curse if the user doesn't understand the ramifications of making the payments. A course in credit management could instill a sense of responsible use, an understanding of the fine print, and eliminate the problem of massive student debt.
Khaitova, Nigora. "Women Commit Suicide Due to Financial Problems, Unreciprocated Love and Male Violence (Experts)." Stop Violence Against Women. 29 Nov. 2005. Minnesota Advocates for Human Rights. 23 Aug. 2006 .
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