Other Contributors

About Us

The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

« Justice Endorses Foreclosure Mediation | Main | Program on the Legality and Politics of the Cordray Recess Appointment »

Wednesday, January 11, 2012


Steve Rhode

I agree. It does not make much sense to me as well. I'm not convinced that waiting three more years will help much either. Few personal finance courses are taught to college ages students. And if they were they'd never take out student loans in the first place. Want to talk about terms that result in financial slavery, look at student loans.

If we wanted to protect 18-21 year olds we'd let them have access to credit but limit the amount of their credit granted. The same impactful and life long lessons can be learned struggling to make payments on a card with a $500 limit and will be less painful than a 21 year old with student loan payments and a $5,000 limit and balance due.

Let people have early access to a credit card with training wheels and give them the teachable moment.


The reference in the paper to Microsoft, Dell and Facebook did not mention whether their founders used credit cards as a financing means or to pay personal expenses in lieu of regular employment that would have distracted them from developing the innovations that led to the companies we now know.

I don't know... I get the argument, but irresponsible use of credit at an early age is harmful. Until the education system focuses the attention of the nations youth on the true cost of credit prior to reaching majority age, 21 works.

Banks lose a 3 year demographic to market debt to young adults. I am sure that ticks them off.
I am sure every profit facet of the alcohol beverage industry would like that 3 year window too.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been saved. Comments are moderated and will not appear until approved by the author. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Comments are moderated, and will not appear until the author has approved them.

Your Information

(Name is required. Email address will not be displayed with the comment.)

Subscribe to CL&P

RSS/Atom Feed

To receive a daily email of Consumer Law & Policy content, enter your email address here:

Search CL&P Blog

Recent Posts

December 2017

Sun Mon Tue Wed Thu Fri Sat
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30