32
HOUSE OF REPRESENTATIVES             H.R. NO.              
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                     HOUSE  RESOLUTION
  REQUESTING THE BOARD OF REGENTS OF THE UNIVERSITY OF HAWAII TO
    ADOPT A POLICY TO RESTRICT THE DIRECT SOLICITATION ON
    CAMPUS OF STUDENTS FOR CREDIT CARD ACCOUNTS AND TO OFFER
    CONSUMER CREDIT SEMINARS AS PART OF FRESHMAN ORIENTATION.



 1        WHEREAS, college students and their families are in debt
 2   more than ever, with an unprecedented number of college
 3   students relying on loans to help pay their tuition; and
 4   
 5        WHEREAS, many college students compound their existing
 6   financial problems by incurring huge credit card debts; and
 7   
 8        WHEREAS, on many college campuses, the use of credit cards
 9   has become a way of life for many students, and few students
10   know or understand the principles and benefits of sound money
11   management and good credit; and
12   
13        WHEREAS, although many college students are unemployed,
14   credit card offers from vendors promise easy credit and bonuses
15   for accepting the credit card; and
16   
17        WHEREAS, many college students graduate owing substantial
18   credit card balances and are plagued by poor credit; and
19   
20        WHEREAS, college students generally do not realize that
21   poor credit can follow them, affecting their housing options,
22   the ability to buy a car, and the ability to obtain employment,
23   as many employers conduct credit checks of prospective
24   employees; and
25   
26        WHEREAS, it is important that college students and their
27   families be made aware of the danger of substantial credit card
28   debt, and that there are alternatives to credit cards which
29   promote better and wiser management of personal funds, such as
30   debit cards, prepaid long-distance calling cards, letter
31   writing and e-mail instead of expensive long-distance calls,
32   and checking accounts; and
33   
34        WHEREAS, college students often are unaware of consumer
35   rights, how to handle financial debt, or with whom to file
36   complaints about the sales approach of financial institutions
37   and credit card companies; now, therefore,
38   

 
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                                  H.R. NO.              
                                                        
                                                        


 1        BE IT RESOLVED by the House of Representatives of the
 2   Twentieth Legislature of the State of Hawaii, Regular Session
 3   of 2000, that the Board of Regents of the University of Hawaii
 4   is requested to adopt a policy to restrict the direct
 5   solicitation on campus of students for credit card accounts and
 6   to offer consumer credit seminars as part of freshman
 7   orientation; and
 8   
 9        BE IT FURTHER RESOLVED that a certified copy of this
10   Resolution be transmitted to the Chairperson of the Board of
11   Regents of the University of Hawaii.
12 
13 
14                         OFFERED BY:  ____________________________