N.J. Calls Off Credit-Card Pitches to Students at Public Colleges

February 11, 2013

Companies that issue credit cards can no longer market them to students at New Jersey public colleges under a law Gov. Christie signed Thursday. "These kids are carrying enough debt through student loans, through whatever costs they have for education," said Assemblywoman Celeste Riley (D., Cumberland-Gloucester-Salem), a supporter of the new law. Riley described students as feeling pressured by "predatory soliciting" practices when credit-card companies market through campus displays or alumni association partnerships. Students think: "Hey, they're on campus . . . maybe I should sign up now for a credit card," she said. The new law prohibits public colleges from entering into agreements that would allow students to be targeted in "direct merchandising of credit cards," which includes displays.

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