Mary Baldwin & VMI Work Together to Promote Responsible Use of Credit Cards Among College Students

November 16, 1999

Mary Baldwin University and Virginia Military Institute students will take part in a nationwide campaign to help fellow students gain an understanding of the responsible use of debit and credit cards during Visa U.S.A.’s Responsible Use of Credit Week, November 14 – 20.

The week is part of a special competition developed by Students in Free Enterprise (SIFE) and Visa U.S.A. In January, the competition will award $13,500 to SIFE teams with exceptional projects. SIFE provides college students the opportunity to make a difference and to develop leadership, teamwork and communication skills through learning, practicing and teaching the principles of free enterprise.

“Money touches all of our lives,” said Kelly Presta, vice president, Visa U.S.A. “As the market leader, Visa feels it’s our responsibility to provide the tools and information that young adults need to manage their money better.”

“We want to teach fellow college students about credit and money management for the purposes of working to achieve financial security and independence,” said Becky Worrell, junior at Mary Baldwin and SIFE president.

Mary Baldwin’s SIFE Team is producing a video along with VMI’s SIFE Team which will give information about credit terms and practices by using skits performed and written by SIFE. The video will run approximately 20 minutes and will be shown at Mary Baldwin and VMI on Thursday, November 18 at both colleges. Between the two schools, SIFE hopes a total of 500 students will view the video.

Approximately two-thirds of college students have at least one credit card, and eighty percent of them obtain a card by their first year of college. Twenty-five percent of those who have credit cards obtain a card while still in high school, according to the Institute for Higher Education Policy, Credit Card Survey March/April 1998.

Active on more than 700 college campuses in 48 states and 15 countries, SIFE is a non-profit organization that works in partnership with business and higher education to help students take what they are learning in the classroom and apply it in real working situations.