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HOUSE OF REPRESENTATIVES             H.R. NO.              H.D. 1
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                     HOUSE  RESOLUTION
  REQUESTING THE BOARD OF REGENTS OF THE UNIVERSITY OF HAWAII AND
    THE GOVERNING BODIES OF PRIVATE COLLEGES AND UNIVERSITIES
    IN HAWAII TO STUDY 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 a 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 and prepaid long-distance calling cards; and
31   
32        WHEREAS, college students often are unaware of consumer
33   rights, how to handle financial debt, or with whom to file
34   complaints about the sales approach of financial institutions
35   and credit card companies; now, therefore,

 
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                                  H.R. NO.              H.D. 1
                                                        
                                                        


 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   (Board) and the governing bodies of private colleges and
 5   universities are requested to study the direct solicitation of
 6   students on campus for credit card accounts; and 
 7   
 8        BE IT FURTHER RESOLVED that the Board and the governing
 9   bodies of private colleges and universities are requested to
10   offer consumer credit and money-management seminars as part of
11   freshman orientation to assure that students are well-informed
12   about the principles of credit and sound money management; and
13   
14        BE IT FURTHER RESOLVED that certified copies of this
15   Resolution be transmitted to the Chairperson of the Board of
16   Regents of the University of Hawaii, the President of Brigham
17   Young University, the President of Chaminade University, and
18   the President of Hawaii Pacific University.