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When getting ready to go to college my mother told me not to sign up for any credit cards offers unless I talked to her first. College students are constantly targeted by credit card companies at college fairs, pre-approved cards, freebies and more. But not so much anymore thanks to the new credit card from reform. Credit Card Accountability, Responsibility and Disclosure Act of 2009, also known as the Credit CARD Act, will go into effect on Feb. 22, 2010. This is meant to help protect people from credit card companies hidden fees, change in APR (interest), and fine print. When proposing the bill President Obama said, "Americans know that they have a responsibility to live within their means and pay what they owe but they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common in our credit card industry."
The Credit CARD Act has many aspects to help Americans, and is going to attempt to help the Under 21year olds who often get swept up in the instant gratification of credit. The Act will affect Under 21 year olds in several ways:
Basically,
• Credit for young consumers: Ban credit cards for people under 21 unless they have a co-signer or proof that they have income to pay them back, Bans pre-screening and pre approved credit cards, and the Under 21 year old has get permission from co-signer to increase credit limits on joint accounts
• College marketing: Colleges have to disclose the student information they give credit card information; Credit card issuers are required to file annual reports with the Federal Reserve Board detailing the terms and conditions of all business, marketing and promotional deals with colleges and universities, including the amount of any payments made to the school; Recommend colleges universities and alumni associations to not allow credit card companies to promote on campus or near campus (now near campus is defined as 1,000 miles from the border of the campus)
• No more freebies or promotional gifts to get young
More details
(VIA: Creditcard.com)
College students have already reacted. Some student like Cierra Jackson, a 21-year-old public relations major at Florida A & M University, says "I think it's a good law. Most people get credit cards and are in debt before they finish their first year in college." While others are strongly opposed like Todd VanDuzer, 19, a business major at Arizona State University (ASU) in Tempe. He says he has Capital One and Chase credit cards with no debt. He says, "I think such a law is ridiculous because it is further limiting our rights that we deserve as adults. If we can get tried in court as an adult and go to war, we deserve the same rights as an elder would.
Video and more after the Break
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Now that the Senate has approved an extra $2 billion for the Cash For Clunkers program, it seems like a good time to add my voice of dissent to the fray.
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Watching the Super Bowl is not just about watching your favorite player, team, or performance. It's also about watching the commercials. Pepsi has announced that its 23-year-long Super Bowl commercial career is coming to an end. The soda company said it will use its money for a new marketing effort that’s mostly online. Pepsi has had the best commercials, but unfortunately we won’t get the chance to see another of those classic commercials after 2010.
The average 30-second super bowl commercial costs $3 million dollars. Pepsi was one the biggest advertisers in this year’s Super Bowl and has been since 1987.
“Pepsi had been a major advertiser during the Super Bowl. According to TNS, the company spent $142.8 million on the 10 Super Bowl ads from 1999 to 2008, second only to Anheuser-Busch, which spent $216 million. The brewer of Bud Light confirmed Thursday it will have 5 minutes worth of advertising in the 2010 Super Bowl.”
(via ESPN)
The company has decided to dedicate its time to a new project, the“Pepsi Refresh Project.” This project will pay $20 million to programs created by the people to “refresh” communities. Pepsi will have a website—that is expected to go live on Jan 13—where people can post projects like teaching children how to read, or how to organize a group to collect and deliver food. Users can then vote for the project that deserves funding. It looks like Pepsi is trying to give back to the community with its new project.
Will this new project be as succesful as their commercials? I don't know. One thing is clear; Pepsi stepping down leaves room for their rivals, Coca Cola--who has spent in the last decade $30 million dollars on Super Bowl ads—to come out stronger than ever.
Check out this video of top ten Super Bowl Ads of 2008—in which Pepsi came in at number 1 and 3.
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By: Michael Gaulden
I never thought that President Obama’s American Recovery and Reinvestment Act (ARRA), also known as the stimulus package, would impact me directly. I never thought I would actually benefit from it. I was wrong.
ARRA allowed the San Diego Workforce Partnership, a non-profit workforce development agency, to fund a summer youth employment program locally known as the Hire-A-Youth program. To some students, Hire-A-Youth is just another summer job. To some students, it is all about trying something different. To other students, it is all about making money to buy new clothes, the latest cell phones, gadgets and gizmos. To me, the Hire-A-Youth program is the relief to my family’s pain. This program has helped change my life.
Without Hire-A-Youth, I wouldn’t have a job. There used to be a fine line that separated adult jobs from youth jobs, but over the last few years that line has dwindled and perished. It feels as if finding a job is the equivalent of finding a needle in a haystack. Everyone, from fifty-year-olds to fifteen-year-olds, is fighting for that one little McDonald job because what may seem like an insignificant McDonald job can mean the difference between your family eating and starving.
In the current economy, people have lost numerous things. Some have lost cars, savings, and many have lost their homes. I’ve never really had a home to lose. I hear a lot of people saying, “I have nowhere to go,” but that’s absurd. Many can simply just go over a relative’s house or a friend’s. Maybe even a teen shelter or a family shelter -- but that’s still somewhere to go. They might not be wiling to go there, but they still have somewhere to be.
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By: Emily Beaver
Well, when it comes to what you pay for health insurance -- age is important.
Age-rating, or using age to determine how much someone pays for health insurance, has recently been getting a lot of press. And like much of the health care debate, age-rating is turning into a battle between the older and younger generations.
What’s the fight over? Changing age-rating practices could lead to lower insurance premiums for older adults, but higher premiums for younger adults.
Usually private insurance companies charge older adults more for health insurance than younger adults. As people age, they generally have more health problems and spend more on health care services. The system seems fair—the people who use the most services pay the highest premiums.
Well, not everyone agrees. Some people and groups that advocate for older adults say age-rating isn’t fair because people can’t help aging. And age isn’t the only indicator of health, they say. An active, 52-year-old may be healthier than a 30-year-old who lives on cheese fries, Diet Coke and cigarettes.









