By Kenneth Mullinax/ASU
The Wells Fargo Credit Builder Alliance (CBA) has awarded a $10,000 grant to Alabama State University's Office of Residential Life and Housing. The funds will assist ASU's on-campus students in establishing credit.
The assistant vice president for Student Affairs/Residential Life and Housing, Dr. Rakesha Hines, explained that CBA will grant the award to ASU in two equal installments. The agreement requires the University to participate in organizing and facilitating a learning initiative that will teach students the importance of establishing and keeping a good credit rating.
"The foundation of this Wells Fargo grant program is to work with students at Historically Black Colleges and Universities (HBCUs) who live on-campus to both educate them about the many positive attributes that having a good credit rating can bestow upon them after their graduation, as well as to help them build one, based upon their paying for their residence hall rooms while a student," Hines said. "This is a credit building program for students that can help them reap the great rewards of having good credit in place when they receive their diplomas. Being successful in this program can reap many benefits for the students such as being able to more easily purchase homes, cars and other items, as well as being a positive attribute when observed by potential employers."
FROM GOOD STUDENTS TO GREAT CITIZENS
Hines said that the credit-building program is open to any of the University's approximately 2,100 students who reside on-campus and who opt-in to participate with the office of Residential Life. An additional part of the program requires the University to offer and students to attend sessions that will discuss the importance of establishing and maintaining a good credit rating. Students must also remain current in paying for their on-campus housing.