Seniors Prepare for Life After Bowdoin

Story posted April 16, 2010

In a Tax Day special, members of the Class of 2010 enjoyed a panel discussion featuring William Lund '77, Director of Maine's Office of Consumer Credit Regulation, Cindy Bessmer, Manager of Human Resource Services, and Steve Joyce, Director of Student Aid. Topics discussed included assessing job offers and benefits packages, graduate school loans, consumer credit, savings, and special opportunities available to Bowdoin graduates. Many seniors had questions regarding credit cards and the availibility of student loans for international graduate study.

For those of you who were unable to make the event, William Lund's Ten Credit Commandments are worth a read.

The Ten Credit Commandments

I. Thou shalt knowest that "free" almost never means "free."

II. Thou shalt not covet thy auto dealer's car without first conferring with the prophet Kelly (author of Kelly Blue Book).

III. Thou shalt readest the fine print. thou shalt understand that a contract is a contract. Thou must knoweth that NO recission period is offered for a motor vehicle purchase anywhere throughout the land.

IV. Thou shalt thank heaven for www.AnnualCreditReport.com.

V. Thou shalt avoid giving personal or financial information over the telephone to the knaves who callest thou from Canada or Nigeria.

VI. Thou shalt gain a basic understanding of the cost of credit and the power of compound savings.

VII. Thou shalt repayeth thy educational loans or faceth the most dire of consequences.

IX. When thou be asked to participate in a joint purchase or to co-sign another's obligation, thou shall first mappeth out thy exit strategy.

X. Thou shall fire thy divorce lawyer who believeth that a judge's order supercedeth thy existing credit contracts.