It's Hard to Manage Your Credit When You've Never Heard of 'Interest' [pewtrusts.org]

Alicia Doktor 8/8/184:00 AM

When Kentucky state Treasurer Allison Ball and a colleague talked with high school seniors last year about credit cards and other pieces of the personal finance puzzle, something wasn’t right.

“We kept using the word ‘interest’ and we kept getting blank stares,” Ball recalled. Finally, she asked the students who knew what interest is. No one did.

“Here they were, about to be adults, two weeks before graduation — and they had no idea about interest on credit card payments,” said Ball, a former bankruptcy attorney. “That’s exactly how you get into trouble.”

[For more on this story by Marsha Mercer, go to http://www.pewtrusts.org/en/re...er-heard-of-interest]

Add Comment

Comments (0)

<ul id="{%=id%}ButtonGroup" class="button-group h-popup-buttons even-button-group even-1">
    <li id="{%=id%}Okay_buttonContainer"><a id="{%=id%}Okay" href="javascript:void(0);" class="button success no-margin-bottom h-alert-modal-ok-button" role="button">OK</a><script type="text/javascript">
        (function() {
            function {%=id%}Okay_click(event, data) {
            {%=id%}Popup.hide();
        }
        
                $('#{%=id%}Okay').on('click', {%=id%}Okay_click);
        })();
    </script></li></ul><a href="javascript:void(0);" class="close-reveal-modal" aria-label="Close Modal">&#215;</a><div class="last-modal-focus focus-utility-element" tabindex="0"></div>
</div>
<script type="text/javascript">
        (function() {
            {%=id%}Popup = new SS.Popup.ModalPopup('{%=id%}');
        })();
    </script>

Skip to main content

Add Comment

Membership Required

Remove From Your Block List

Manage Follow Preferences

Block

Please wait...