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LAWRENCE -- University of Kansas students will be able to start school this fall and not face credit card company solicitors on campus under a new policy announced today by Executive Vice Chancellor and Provost David Shulenburger.
"Credit card solicitation on campus at the beginning of the academic year can cause new students, especially freshmen, to make inappropriate decisions about making purchases on credit," Shulenburger said. "As a result, a number of students accumulate significant debt loads that damage their long-term ability to obtain credit."
The three-week moratorium is a reasonable and necessary step to help students get started on their studies at KU without confronting vendors offering gifts in exchange for applying for a credit card, Shulenburger said. "It is part of the university's educational mission to assist students in learning to maintain manageable debt loads and a good credit rating," he said.
Under the policy, credit card solicitation will not be permitted between Aug. 15 and Sept. 5 with a few exceptions due to existing contractual agreements. Campus residence halls open Aug. 18 and classes begin Aug. 22. Solicitation is defined as the distribution of credit card applications or distribution of gifts or materials encouraging application for credit cards.
The exceptions are:
• Memorial Stadium and Allen Fieldhouse during athletic events
• Commerce Bank branch in the Kansas Union, as required under its lease
• The Kansas Union Bookstores, a private nonprofit entity in the student unions. The bookstores, which include credit card applications in bags provided with purchases, will place messages on receipts that ask whether students have credit problems or concerns and refer them to an informational Web site, such as www.credittalk.com.
The Kansas Board of Regents is expected this fall to consider a permanent policy on credit card solicitation on regents institution campuses.
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