Chanell Solomon a computer information systems student who works in Lee Hall, is paying for college by herself. The junior from Bowie, Md., said she pawned personal items when she was low on money and needed cash right away.
“I pawned my TV last year, but I didn’t make much money from it. I needed the money fast to pay my cell phone bill, so I went ahead and did it. I think that I may try and sell my things online next time,” Solomon said.
Many students at Florida A&M University pawn personal belongings for quick cash in times of financial need. Bills and the careless spending of money are two of the main reasons students resort to pawning items.
Although many students are employed, even students who work come short on cash.
According to the National Pawnbrokers Association, pawnshops are a business of cash advance and a bargain for goods. When students are low on money, pawning items is a quick and easy way to get funds right away.
Students make use of being able to exchange items at pawnshops, and have the option of paying interest if they want to come back and re-buy the item.
Others said they simply rely on pawning to exchange items for immediate cash.
Travaris Russell a junior business administration student from Zion, Ill. said he pawns his belongings at Folmer Gun and Pawn Shop on North Adams Street
“I pawned my refrigerator and my microwave because I was tired of carrying He carried his refrigerator and microwave? it around and I needed some money at the time for a bill,” said the junior from Zion, Ill.
Many students said that they either have or would consider pawning personal items in times when they need money. Some said that they would pawn things when they leave Tallahassee because they won’t need them anymore.
Mike Norman Jr., the owner of Mike’s Pawn Shop on West Tennessee Street, said that his shop gets a lot of students from FAMU and FSU.
“Students pawn things for many reasons. Some do it to pay bills, to party for the weekend, usually as a resort for fast money because they need it quick,” Norman said.
Norman also said that students who have graduated and want to get rid of their belongings will sell items like refrigerators, TV’s and stereos because they have no more use for those items. Usually, when new students move to town they come in and purchase old items from the shop at discounted prices. Pawnshops carry brand name and comparable items at very significant savings compared to original retail prices. Who is this information according to?
The word pawn originates from the Latin word “patinum” which means cloth or clothing. The French word “pan” refers to a skirt or blouse. In the early centuries, the principle assets people had were their clothes and borrowed money by pawning their clothing. Pawning has been a source of capital for people in times of need and can be dated back to historical times. Who is this information according to?
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