Tuesday, February 10, 2009

Rants and Vents

We are hosting a transfer fair here at my beloved community college today. Bank of America sets up a solicitation table in our cafeteria every Tuesday. They were there today, smack-dab in the middle of the college tables taking advantage of the unusually high volume of student traffic.

As I ate my lunch, I grew increasingly frustrated watching them hawk their credit cards to students with promises of frequent flier miles and 0.1% cash bonuses. They downplayed fees and associated costs and encouraged students to "Just apply! You can always reject the card if you get it!"

B of A has already had their hand out for my hard-earned TARP tax bucks and I really don't appreciate that they still do business in a culture of risky lending practices. I was upset that they were pressuring students into these high rate credit cards when so many are already struggling financially.

I'm pissed that they get the bail-out when use regular folk could do such a better, wiser job of managing that money. Our students are at this community college most likely because they can't quite afford 4 years of university. Why not bail them out? Reimburse their tuition and books. Give them money to invest in themselves and then a bit more to reinvest in the economy. Not to these stupid banks who haven't learned a damn thing from the credit crisis.

In other disappointing news, I listened to an academic advisor dispell the lies the Army Reserve told one of her students. This student was born and raised in the US, but speaks English as a second language. The recruiter told her that she could join the reserves and only have to serve one weekend a month. They failed to mention that that one weekend a month was the minimum committment; and that, recently, reserve groups are being deployed for 14 to 20 month assignments in Iraq and Afghanistan. They told her that after 2 years in the reserves, they would pay for medical school, but failed to mention the part of the contract that required a re-payment of medical field work in an active zone after medical school completion. I listened as this student cried because she thought she had found the answers to her family's financial problems and a way to serve her country, get an education and stay close to home.

What is it the deception. Is this the new American way?

3 Comments:

SoMi's Nilsa said...

You know what's equally as disappointing? Your University ALLOWS Bank of America to proceed with such practices on their property. Shame on them, too.

Karla said...

Nilsa, that might be the saddest part of all of it.

DaVida Chanel said...

It is crazy - I think they are all in it together! You'd think in these economic times they'd be EXTRA sensitive to encouraging more debt! CRAZY!

 

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