College Parents of America and Chase Collaborate to Improve Teens' Financial Futures
New Guide Helps Parents Talk to Young Adults About Money
Wilmington, Del., Mar. 25, 2008 — Building on its commitment to helping consumers develop sound financial management skills, Chase Card Services, the credit card division of JPMorgan Chase & Co. [NYSE: JPM], announced today a new relationship with College Parents of America. Together they are introducing "Parents, Teens and Money: A Clear and Simple Guide to Discussing Financial Responsibility." This detailed guide will help parents discuss personal finance issues with their young adults.
"We hear from the parents we serve as well as the colleges and universities we work with that financial literacy is an important issue and that there's a need for better resources to create a good foundation for young adults," said James A. Boyle, president, College Parents of America. "By sharing this guide with our members and other organizations, we hope to empower today's teens to be successful and responsible adults."
College Parents of America and Chase created the "Parents, Teens and Money" guide as a way to address this critical need. The new guide – available online at www.chaseclearandsimple.com or www.collegeparents.org – provides parents with critical information to use in discussions with their high school and college students to help instill good financial discipline.
"Parents, Teens, and Money" contains shared activities and discussion guides to help parents teach their teens important personal finance lessons, including:
What important questions to ask before signing up for a credit card.
How interest rates, fees and penalties impact the cost of using credit cards.
How to identify the main differences between credit and debit cards.
What other types of loans are there and how to compare terms to get the best deal.
How to make and stick to a budget.
How to spot – and prevent – identity theft.
"Chase believes that parents, more than anyone else, can help put young people on a path to financial success. Particularly now, in this challenging economic environment, families need to have frequent and frank discussions about money matters," said Kathy Witsil, general manager, Chase Card Services. "We are proud to partner with College Parents of America and together, we hope to help parents work with their young adults to build strong financial habits that will serve them well throughout their lives."
To learn more about "Parents, Teens, and Money", and to download a copy or access an interactive version of the guide, please visit the Chase Clear & SimpleSM Web site at www.chaseclearandsimple.com or College Parents of America's site at www.collegeparents.org.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries, and the company has issued about 168 million credit cards in the United States and Canada. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers and businesses in the United States and many of the worlds most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about the firm is available at www.jpmorganchase.com.
About College Parents of America
College Parents of America, headquartered in Arlington, VA, is a national membership organization that serves more than 100,000 current and future college parents. The groups mission is to empower parents to best support their children on the path to and through college. College Parents of America seeks to accomplish its mission through a mix of advocacy, information and access to beneficial resources. More information about College Parents of America can be found on its Web site, www.collegeparents.org.
# # #
FOR IMMEDIATE RELEASE
Media Contact:
Stephanie Jacobson
Chase Card Services
302-282-4022
stephanie.jacobson@chase.com
FOR IMMEDIATE RELEASE
Media Contact:
Christal Karnaze
College Parents of America
888-761-6702
CKarnaze@collegeparents.org