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Prohibition on the Marketing of Credit Cards Policy

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New York State Law (Article 129-A, 6437) prohibits the advertising, marketing, or merchandising of credit cards to students on college campuses except pursuant to an official credit card marketing policy. The statute was passed to address an alarming trend in which college students who lack financial management skills are solicited for credit cards on campus and incur significant credit card debt resulting in negative credit histories and sometimes bankruptcy. This policy fulfills The Juilliard School’s statutory obligation to adopt an official credit card marketing policy while maintaining the ability of individual colleges to allow credit card marketing on campus under appropriate guidelines.

The Juilliard School shall not sell or otherwise make available student lists to credit card companies. The term "credit card companies" as used in this policy includes all financial institutions and any other issuers of credit cards. The Juilliard School bans the advertising, marketing or merchandising of credit cards to students on its campus.

In addition, Juilliard has instituted the following policies:

  1. Banking institutions are prohibited from soliciting students on campus.  New students are provided with information about how to establish checking and savings accounts, and are given a list of local area banks.
  2. The Juilliard School Store shall be prohibited by from including credit card applications and brochures with bookstore purchases. 
  3. The Juilliard School and its employees are not permitted to engage in revenue-sharing arrangements with any lender, nor accept equipment or printing services from loan providers. The Juilliard School and its employees will not steer borrowers to particular lenders or delay loan certification.
  4. Credit card and debt education shall be a regular part of campus programming, including at new student orientation programs.