Published: August 18, 2008 11:56 am      

City native writes college help book

Author says in introduction that his message is simple

CUMBERLAND -Each year, more than 1.5 million college students drop out of school due to financial issues. Of those who do graduate, 33 percent have accumulated more than $2,000 dollars in credit card debt.

With these issues in mind, Cumberland native Bill Pratt wrote and published "Extra Credit: The 7 Things Every College Student Needs to Know About Credit, Debt, & Ca$h."

"My message is simple," Pratt said in the introduction of his book. "Credit is a tool that can be used to create or destroy, just like a hammer. If you try to use credit without really knowing how, then you will be likely to destroy."

A graduate of Allegany High School, Pratt majored in economics at Frostburg State University, where his inspiration for "Extra Credit" was founded.

"I got a credit card in college and, basically, I didn't know anything about personal finances," said Pratt, in a telephone interview with the Times-News. "In school, they teach you about the business side of money and not the personal side."

After graduating in 1998, Pratt obtained his master's in business administration and began working for a credit card company, where he was able to learn about the industry. He wanted to focus on helping people with their credit problems, and wrote "Extra Credit" on the commuter train while riding back and forth to his job in Washington, D.C.

"I really have a passion for helping students with money," explained Pratt. "I am pro-business, but it needs to be a fair game. I don't believe that the industries need more restrictions; I believe that the consumers need to know the rules."

Pratt resides in Keedysville with his wife, Christy, also a Cumberland native. He is now working on a book titled "The Graduate's Guide to Life and Money," focusing on common issues for those in their 20s, from getting a job and buying a house to getting married.

For further information on "Extra Credit" or with any questions, e-mail Bill.Pratt@prattfinancialgroup.com or log on to www.extracreditbook.com.