In Debt Before You Start?

By Ashley Griffith

ORLANDO, Fla.,--With the United States economy in the midst of a financial crisis, Valencia Community College is taking steps to inform students on debt protection and the importance of financial literacy.

Eunice Cruz, president and founder of Victorious Overcoming Women (V.O.W) Ministries spoke at a Valencia skill shop entitled “Understanding Debt and protecting your Credit" on Thursday.

“The average college student graduates with $40,000 dollars in debt,” said Cruz. She focused on explaining to the students the importance of understanding student loans, credit cards, and your own personal credit score.

Valencia student Bernice Rivera thought the skill shop was especially important for college students because “many students get credit cards and max them out.” One of the most detrimental factors in debt protection Cruz focused on for students was student loans.

The most important advice Cruz offered is to “Read the fine print! Education is important, but you have to understand how much it is going to cost,” she said.

Also included in the skill shop were the issues involved in credit scores. Cruz explained to the students what factors affect your credit score, and how to restore your credit. "When you sign up for a credit card you are now being identified by a three digit number: your credit score,” said Cruz.

Students found the skill shop effective in demonstrating the importance of being financially savvy. “I don’t have credit card, but if I had one, I would know what to do,” said Valencia student, Jennifer Ilojiole.