The Federal Trade Commission's Northeast Regional Office and John Jay College of Criminal Justice will hold a press conference to kick off the FTC's 2002 campaign to educate area college students about responsible credit card use.

Studies show that 83% of under grads have at least one credit card, the average credit card balance for college students last year was $2,327, and the median debt increased by 43%. By graduation, most students have more than doubled their average debt and almost tripled the number of cards they hold.

Over 850,000 students are now coming to the New York City metro area's colleges and universities -- over 190,000 as freshmen. These teens are targets for high pressure -- and sometimes unscrupulous -- credit card offers. Due to great demand, the FTC is expanding "Project Credit Smarts" -- a crash course for freshmen and other students on how to survive the high pressure tactics of credit card promoters. In the past two years, the FTC has contacted over 60 New York City area colleges and universities and provided them with educational materials and speakers to teach "Credit Smarts." At John Jay, for example, FTC staff teaches Credit Smarts to incoming freshmen and distributes the FTC's ABC's on using credit, right where students use their credit cards: at the register of the campus bookstore.

And Credit Smarts is not just for students. With consumers feeling a bit helpless in the wake of recent business scandals and the plunging stock market, there is a way for all consumers to exercise control over their finances. Beth Kobliner, best-selling author and financial news commentator, will be on hand to offer consumer tips on how to control personal spending and debt.

Barbara Anthony, Regional Director, FTC, Northeast Region
Dr. Roger Witherspoon, V.P. for Student Development, John Jay College
Beth Kobliner, Author, The New York Times Best Seller, Get a Financial Life
Thomas A. Cohn, Assistant Regional Director, FTC, Northeast Region
John Jay students with credit card problems

Tuesday, August 27th at 10:30 AM

John Jay College of Criminal Justice, located at 899 Tenth Avenue,
between 58th & 59th Streets - to be held in the President's Room, #625

FTC - Cindy Kapadia (212) 607-2807 or Michele Stolls (212) 607-2834
John Jay - Jerry Capeci (212) 237-8628