Students Relying More Heavily on Credit Cards
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Renovations TUESDAY Hemenway | page 3 The Voice of Hawai‘i April 12, 2005 Inside News 1 Opinions 4,5 Comics | Crossword 6 Features 2,3 Ka Leo O Hawai‘i Sports 7,8 VOL. XCIX ISSUE 133 THE UNIVERSITY OF HAWAI‘I AT MANOA¯ www.kaleo.org Students relying Locks in loving memory more heavily on credit cards By Kari Wright and an astonishing 96 percent of gradu- Kapio Graphics Editor ate students carry an average of six credit cards. By graduation, most stu- The life as a student can be finan- dents already owe an average of cially trying. The sudden freedom $20,402 in combined education loan granted after high school actually and credit card balances. Sixteen per- means the sudden responsibility for cent or $3,262 of that debt for final-year oneself, and for most, the hardest part undergraduate students is from credit of that responsibility is becoming finan- cards, and graduate students carry bal- cially independent. ances of more than twice of that. Money can be a touchy subject for Other KCC students feel that students at KCC and many refuse to financial stability is still far in their discuss the matter when asked. Those distant future so they don’t spend much TONY BLAZEJACK • Ka Leo O Hawai‘i who chose to open up had little to say. time thinking about it. Senior Joy Symons shaved her head at the American Cancer Society’s Relay for Life event held Friday at Cooke Field. Most students’ financial future is quite “I live at home and don’t have any Symons, an athlete on the swim team, opted to shed her locks in memory of a friend who died of cancer in October. “I bright, if they can avoid the many hur- bills so I don’t worry about money. I’m couldn’t make it back home for his funeral,” she said, “so I told myself I would shave my head in his honor.” dles and pitfalls set up along the way. going to college to get a degree so I can According to author Robert T. get a good job,” Rene Suehiro said, as Kiyosaki, students are set up for failure he casually lights a cigarette and shakes because of their ignorance of how his head, adding, “It’s really not some- money works and their willingness to thing I have to deal with now, my par- get themselves in debt, but some stu- ents take care of everything.” UH sleep-in supports HB 19 dents at KCC are aware that credit Other students feel that money is a cards can lead to trouble down the road. very low priority, like Dane Matsukawa, By Tony Blazejack repairs and the construction of new racked up an estimated $34 million in “I could use a lot of money, I think who said, “In comparison to other stu- units. deferred maintenance and in the first anyone could. But I don’t have a credit Ka Leo Photographer dents here, I think I have a very differ- “It’s all about House Bill 19,” said card because of the high interest rates. I two weeks of the spring 2004 semester ent outlook on money. I would be Barry. “We need it to pass so the uni- don’t want to have to pay for it later,” When Hale Kahawai resident 72 complaints were filed by residents happy with money, but without my versity can use that money to improve freshman Jonathan Rodriguez said. Jason Abe woke up Friday morning, in Hale Wainani alone. family and friends it would mean noth- Rodriguez is not the only student something was a little different. Maybe housing conditions on campus.” “My biggest gripe against hous- ing to me.” who is aware of interest rates; second it was the early morning rush hour UH Manoa housing has been ing is not having soap and paper tow- year student Megg Jobson knows first For students who are planning on traffic of University Avenue, or the plagued with problems recently, from els in the bathrooms,” said Abe as he hand about how much she will be pay- getting a credit card, the best strategy is gentle humming from the KITV gen- the closure of the International stood outside his tent while the sky ing back later. to choose wisely and not overspend. erator nearby. When he emerged from Gateway House last spring, to a short- showed the first shades of the Initially, it may feel like the answer to age of rooms that left hundreds of “It (a credit card bill) is going to his tent and looked around, it was a far approaching sunrise. “I’m not bashing financial problems, but over time inter- students scrambling for housing last be a lot more by the time I start paying cry from his dorm room. housing, I just want to see a change for est rates can make a credit card bill over fall. it back but I need to pay my bills now, About 15 tents were pitched on the better.” twice as much as the initial bill. The university has not construct- so I will just have to get a high paying Bachman Lawn on the corner of Various television news crews There are many Web sites with ed a dormitory since 1978 and the job when I get out of school,” Jobson University Avenue and Dole Street, appeared throughout the night, and said. information on credit cards and how to current facilities are in need for repairs. avoid debt. For more information log last Thursday, as well as an invitation House Bill 19 is proposed to the KITV conducted an early morning According to Nellie Mae, Jobson for students to join ASUH members live broadcast that included student is just one of the 83 percent of under- on to the recommended sites below, legislature and according to the bill who “would rather sleep on the lawn.” interviews. graduate students that have at least one which are geared toward students. description will help “finance the con- Students spent the night camping in Interim UH President David credit card in their name, with an aver- struction and repair of student housing age balance of $2,347. • www.free-financial-advice.net/credit- protest of housing conditions at the units at the University of Hawai`i by: McClain and his wife Wendy were on Although freshmen have the low- cards.html University of Hawai`i at Manoa. Allowing UH to use sources other than hand early Thursday evening to show est rate of card possession among • www.youngmoney.com ASUH Senator Katie Barry orga- revenues generated through the bond support for the camping students. undergraduates, more than 54 percent • www.sec.gov/investor/students. shtml nized the event with hopes that aware- system; and authorizing the issuance “I think it’s a terrific idea,” said carry a credit card. The percentage of ness can be raised to current dormitory of revenue bonds to finance university McClain. “They are thinking outside students with at least one card increases Copyright © The Kapio Newspress, conditions and the passage of a bill housing units.” of the box and presenting the issue in a to 92 percent by their sophomore year, 2004. All rights reserved. that would help appropriate funds for In January 2004 the university very dramatic way.” NewsBriefs UH Bookstore to host “How Early America Sounded” by Hall 704. will be presented tomorrow from 9:30 History Professor Richard Rath. Kathryn Braun, professor of public - 10:30 a.m. at Moore Hall 228. “The Power of Nightmares” film book signing health and social work, UH Manoa, is A former resident of Beijing, “I’m delighted that Tradebook showing is tomorrow from 7 - 9 p.m. at the featured speaker. Cancer incidence China, Ling will highlight develop- Manager Puna Nouchi and the UH the St. John Auditorium 11. There will be a book signing by Bookstore have taken this interest in and mortality rates for Native Hawaiians ments that occurred in Beijing from This film endeavors to reveal poli- University of Hawai‘i professors tomor- books written by UH faculty,” said exceeds those of other ethnic groups in March through June of 1989 that are ticians’ discovery of a role that restores row from 12 - 1 p.m. at the campus Hughes. “It should be a great event for Hawai‘i. The goal of ‘Imi Hale, the usually ignored by international news their power and authority. Instead of bookstore. The following books and everyone, with brief talks by all Native Hawaiian Cancer Awareness, media. delivering dreams, it explains, politi- authors will be at the bookstore: Research and Training Network is to Ling’s lecture is part of the curric- seven authors, the signing itself and, of cians now promise to protect us from reduce cancer-related health disparities ulum in Vincent K. Pollard’s course “Murder on Moloka’i” by English course, refreshments.” nightmares. They say that they will among Native Hawaiians through Asian Nations Studies: China. Professor Chip Hughes, The UH Manoa Bookstore is rescue us from dreadful dangers that we capacity building in research, program- A question-and-answer period will “The Writer’s Book of Wisdom” by sponsoring this event. For more infor- cannot see and do not understand. mation, call Nouchi at 956-4338 or ming and healthy living. follow the presentation. English Professor Steven Goldsberry, The film seeks to expose that e-mail [email protected]. For more information, call Judith The Asian Studies department is “The Text is Myself” by English Inazu at 956-4584, or e-mail inazu@ sponsoring this event.