TG Co-Sponsors Chat Event to Address Student Credit Card, Loan Debt

Business Wire, Oct 1, 2002

Business Editors & Education/Consumer Writers

AUSTIN, Texas--(BUSINESS WIRE)--Oct. 1, 2002

Along with a bachelor's degree, the typical college graduate now leaves school with over $17,000 in student loan debt.

In addition, the percentage of students holding at least one credit card has risen 24% since 1998, according to a recent study(a). Accordingly, the amount of debt and lack of knowledge about personal finance among students has become an increasing concern for this country and its leaders.

To address the issue of debt and credit management, Mapping Your Future (http://mapping-your-future.org), a public service Web site co-sponsored by Texas Guaranteed (TG) and other student loan guarantee agencies, will offer a "Personal Finance and Default Prevention" Chat on Oct. 15, 2002, from 2 to 3 p.m. (Central). The chat is designed to help students and their parents who are interested in managing debt and learning about personal finance. Financial aid and career experts from all over the country will answer questions and provide information on the following topics, among others:

-- managing credit card and student loan debt,

-- warning signs that finances are out of control,

-- solutions to personal finance problems, and

-- consequences of default and bankruptcy.

Anyone with Internet access can participate. On the afternoon of the chat event, visitors will go to www.mapping-your-future.org and select the chat session. Simple instructions will guide them on how to join the event.

TG is a public, nonprofit corporation that helps create access to higher education for millions of families and students through its role as an administrator of the Federal Family Education Loan Program (FFELP). Its vision is to be the premier source of information, financing, and assistance to help all families and students realize their educational and career dreams. Additional information about TG can be found online at www.tgslc.org. This press release can be downloaded from www.tgslc.org/tgslc/newsroom/.

(a) From April 2002 study conducted by NellieMae. Available at

http://www.nelliemae.com/library/ccstudy_2001.pdf