Founded in 1883 and named one of the original eight "public ivy" institutions, UT is located a mile from the state capitol. In the 1920s, its expansion was partly funded by the discovery of oil on campus grounds.
A 2007 Texas state law bans credit card marketing at public or private colleges and universities -- unless conducted in designated areas on campus. The law also bans offering incentives to sign up for credit cards. Organizations marketing on Texas college campuses must also provide financial education programs for students.
Here's what some students at the University of Texas have to say about the new credit card law and managing credit cards:
"Once you're at a university, you have this newfound freedom, and you should be able to get a card without your parents co-signing for you. Going into it, you just have to know that it's money you are borrowing; it's not free money. You just have to be responsible about it." -- Jeraldine Gaona, 18
The 307-foot tall UT Tower, built in 1937, serves as a landmark and symbol of UT pride.
"[The law] would be good in the sense that I don't think when I was 18 I was responsible enough to have a credit card. And I've had friends who obviously have had credit cards, and they are still battling debt. But, at the same time, I think it's everyone's choice. I mean, they are adults; they should be able to figure it out themselves." -- Chris Augustine, 23
"I could see how the law could help for kids that get a credit card when they are 18 and destroy their credit before they know what they are doing." -- Kieth May, 20
"I think that's a good rule. Younger people will just abuse a credit card and not worry about paying it back on time because it doesn't matter much to them. I think they don't understand how being in debt would affect them. " -- Casey Biggs, 22 Video: UT students respond to law changes
Rate survey: Credit card APRs unchanged as holidays near – Interest rates on new credit card offers remained unchanged this week as banks took their traditional Thanksgiving break from changing rates, according to the CreditCards.com Weekly Credit Card Rate Report ...
Rate survey: Credit card interest rates hold steady – The average interest rate on a new credit card offer stayed static this week, according to the CreditCards.com Weekly Credit Card Rate Report. However, that doesn't mean that all of the nation's largest credit card issuers were sitting on their hands ...
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