New Credit Check Laws to Help Students Get Jobs
For college students and recent graduates, the prospects of finding a job in this harsh economy is intimidating to say the least. With a job pool that is oversaturated with applicants of all ages, employers are looking for anything to eliminate candidates and make decisions quicker. According to the Society for Human Resources Management, a factor that over 60 percent of employers consider today is something that negatively impacts the recruitment of college students—a Credit History Report.
Let’s face it: “High Credit Score” isn’t exactly at the top of our resume when we’re fresh out of college. Most of us are just beginning to pay off student loans, don’t have much job experience, and are still recovering from outrageous bills accumulated from laptops and liquor tabs. A degree from a reputable university may not be enough to land a job right off the bat—and many states want that to change.
In an effort to facilitate jobs for both students and the rest of the work force, many states have begun the legislation process to make it illegal for employers to use Credit Checks in the hiring process when it’s not relevant to the position. For instance, employers wouldn’t be able to obtain a credit history of an engineer as it’s not necessary to determine if he can perform his job—as opposed to an accountant.
Oregon, Washington and Hawaii already implemented such legislation, and now 16 other states have begun the process. States with pending legislation now include: South Carolina, Maryland, Vermont, Connecticut, Michigan, Illinois, Ohio, Georgia, Missouri, Indiana, New Jersey, Oklahoma, New York, Wisconsin, and Pennsylvania.
So what does this mean for students? It’s a chance to jump into the job market and get a great job—even with bad or no credit.
Photo courtesy of Freefoto.
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