COLLEGE OF ENGINEERING
To: Drs. Grabiec and Vollaro
From: Sergio Rojas Section Number: ENGR102-05
Date: 11/21/14
Subject: Big Money, Big Life

The purpose of the freshman focus of this week “Big Money, Big Life” was to inform and educate us about the dangers of having a credit card in college. He related to his past experience and mistakes concerning the misuse of a credit card. He told us that after he was done with college he had as $7000 debt on credit cards that he struggled to pay back. He also presented the benefits of having a good credit history and the financial consequences that not having one could have. He presented a couple of examples where having a good credit history could save you great amounts of money. The one that made the biggest impact on me was the one of buying a car with credit. He compared the interest of someone with an excellent credit history with someone who didn’t have one. The one who had the great credit history end up saving around $12000 at the end of the payment. That is a significant amount on an activity that probably every college student will or has gone through. I believe that everybody connected through that and other great examples that the presenter illustrated.

Before attending the freshman focus, I was somewhat aware of the importance of having a good credit history but I had no idea that it was of such gravity. I had no idea that it could affect greatly on your entire future and all the possible purchases that you may have. That a simple mistakes that almost every college student could have it could also cause a great impact on your future. My knowledge about the consequences of having a bad credit history was almost non-existent since I am not from the United States. I believe now that I am more aware of the consequences of getting off track with my credit, I won’t make the mistakes that I could have made otherwise.