The Foreign Service Journal, June 2008

76 F O R E I G N S E R V I C E J O U R N A L / J U N E 2 0 0 8 S CHOOLS S UPPLEMENT vice is another way to get funds to a student within a few days. Many campuses have a “good as cash” card that often takes on the name of the school mascot. These cards are pre-loaded with cash and can be used both on and off campus. When kids swipe them, the sum is deducted from the balance. Some universities require these cards for bookstore purchases. (Other universi- ties only accept credit cards; be sure to find out ahead of time.) The cards are financed by parental deposits and can be loaded online using a credit card. If electronic money is so easy to get, students may tend to forget about the budget. But it’s important for them to understand that the money supply is limited, so they will have to apportion out their funds to make them last for books, bills and fun. Talk to them about the need to open their mail, and either pay or send important bills home as quickly as possible. Parents have told me horror stories of kids getting bills in the mail, only to toss them in the corner unopened. Months later, a letter from a collection agency finally gets the kid’s attention. Students should also be prepared to be inundated with credit card offers from banks, as parental signatures are not required for a card with several thousand dollars of credit. Speak to them about the dangers of these offers, and the consequences of consumer debt that cannot be repaid. They should also be aware of credit-card scams and should know to never, ever give out their account numbers or information to anyone. Recently a stu- dent I know received a call that she had won $25,000 and all she had to do was give her account numbers — scary but true. Fortunately, she knew better. The “Folder of Life” One thing I gave my daughter when she left home was a 12-month filing folder that we call the “Folder of Life.” It has separate sections holding copies of all her critical paperwork (birth certificate, school records, etc.), medical records and insurance information, a small address book with emergency contacts for extended family and friends, travel info and return ticket, a place for her diplomatic passport, banking backup information, and so on. There’s also a section with a very small assortment of family photos and some of her own passport photos, in case she needs them. She laughed when I did this, but now she’s very protective of it and has used it on more than one occasion! — A Foreign Service parent Continued on page 78