By: BART SCHANEMAN
For the North County Times

Post-college cliche number one: Graduated student works part time at corporate coffee shop to keep student loan consolidation companies at bay, meanwhile racking up credit card debt in order to pay the rent and eat.

But there is a way to avoid being in that picture.

Tom Severance, chairman of the business and public service department and professor of personal finance at MiraCosta College, says the first thing a potential credit applicant should have is prudence.

"Don't get a credit card unless you are mature enough to handle the responsibility," Severance said. "Choose the credit card you obtain wisely."

In an effort to increase the financial decision-making power of San Diego community members, Mission Federal Credit Union and KPBS have joined hands to "raise awareness on the importance of financial education."

A financial Web site, www.sdfinancialeducation.org, has been designed by the partnership to provide information concerning building credit and managing debt. The Web site offers financial planning resources and tips for different fiscal life stages, including starting out, young professionals, family living, living large, fixed income and conserving seniors. It also includes tips on preventing identity theft, the credit scoring process, and searching for and buying a home.

The new site is one of hundreds of financial Web sites people can turn to and one of many resources available to students and the public at large.

Cal State San Marcos offers tips about better money management and debt awareness at orientations for incoming students, according to financial aid adviser Cynthia Silman. The workshops focus on making students conscious of their career choice versus how much debt they will accumulate.

"If you have someone who's accruing $46,000 in debt and they're going to be a teacher, they're going to have more problems than someone who's accruing $46,000 in debt and they're going to be a physician," Silman said.

MiraCosta offers college success skill courses to teach students how to budget money and credit.

"We look for the source of the problems," MiraCosta counselor Hilda Gomez said. "We're looking at what they're spending money on and teaching them how to save, create a budget and where to find other sources of financial aid, such as scholarships."

Credit cards work well in emergencies and when convenient, but, Severance said, it is important to pay off the balance each month and avoid using credit for borrowing.

"Borrow only to purchase appreciating assets: home, business, education," Severance said. "Do not borrow to purchase depreciating assets: trips, consumer purchases."

As in all things, some students are smarter than others.

"Some students aren't even aware they're approaching their max credit limit," Silman said.

Although debt can be overwhelming if mismanaged, the long-term benefits can make borrowing worth it.

"Sometimes, it might be necessary," Severance said. "If the loan was for education and that was the only choice, you should be able to pay it back soon with your higher earning power. Again, borrow only to purchase appreciating assets."

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