Features
Moe Levy reminisces about the late Izzy Asper
By BERNIE BELLAN In March 2023 Moe Levy retired as executive director of the Asper Foundation, after 23 1/2 years in that position.
To that point Levy had been the only person to hold that position. In an April 2014 column about Levy I wrote about how he had come to fill that role. Prior to becoming executive director of the Asper Foundation, Levy had an extensive background in both the public and the private sectors.
After coming to Canada from his native Bombay, with a stop in Israel along the way, Levy entered university here, acquiring both a Bachelors and Masters in Business Administration from the University of Manitoba.
As I noted in my 2014 article, “Levy says that he began to work for the Manitoba government as soon as he graduated from university here. ‘I started off as a consultant, he explained. In two years ‘I created the first business incubator program in Canada,” he said with pride. ‘It was called ‘Enterprise Manitoba.’
“One of the programs that grew out of that particular initiative was something called ‘Business Start”,’which saw young entrepreneurs receive $5,000 grants from the government,’ ” Levy added.
Later, Levy was involved in various other enterprises, including joint ownership (with his brother) of what became two well known restaurants in Winnipeg (although both have since closed): Moskowitz and Moskowitz” (at the corner of Mayfair and Main), then Schmeckers (in St. James).
As I noted, however, Levy and his brother eventually sold the restaurants. “ ‘I couldn’t stand the restaurant business,’ Levy explained.”
In 1993, along with other investors, Moe bought a company known as the Northern Fur Exchange – which is where I first met Moe and his late wife Barbara (who was heavily involved in managing the company), when I went there to do a story about the business.
“But, by 1999, Levy says, he ‘wanted to take the company in a different direction than his partners, so he sold his interest to them and began to take stock of where he wanted to go
from there.
“ ‘I was 51 years old. I saw an ad in the Globe and Mail. It was an ad for a Jewish foundation (in Winnipeg). It didn’t say exactly which foundation. The ad was for an executive director for that foundation.’
“ ‘I threw my name into the hat,’ he said, without knowing that he was applying to be executive director of the Asper Foundation. Levy had met Izzy Asper only once before – in 1997, when Asper was in the process of endowing the Asper Centre for Entrepreneurship at the University of Manitoba. While the two men eventually forged a close relationship, it was as a result of Izzy’s sudden death in 2003 that Moe Levy found himself working hand-in-hand with Izzy’s daughter, Gail.
“While the Hebrew University was the major focus of the Asper family’s involvement in Israel for years, Gail paid tribute to the Asper Foundation’s work in Israel having ‘greatly expanded’ since Moe Levy became executive director of the Foundation,” I wrote in that 2014 article.
This past May 22, Moe Levy was the guest speaker for the Remis Luncheon group. His talk was advertised this way: “Moe will recount many compelling and funny stories of working with Izzy, one of Canada’s leading philanthropists and entrepreneurs. including the initial vision for the Canadian Mureum for Human Rights, the Asper School of Business, and many ground breaking projects in Winnipeg and Israel.”
Before he began his talk I asked Moe whether anything he was about to say would be off the record. He thought about it and replied that if he were going to say anything that he didn’t want recorded, he would let me know. As it was, he only thought of going off the record once – and even though he didn’t say: “This is off the record,” the fact that he even contemplated it led me not to repeat what he had said. (As you read on, you’ll find what it is that I withheld printing.)
Levy began by recalling sitting in Izzy Asper’s “beautiful back yard” one July evening in 2000. “He had just given away $50 million in the last 10 months. I started on September 1, 1999 and, in six months – $10 million to the Jewish Foundation, $10 million to the Winnipeg Foundation, $5 million to St. Boniface (Hospital), $5 million to the Hebrew U…”
“I had just come back from visiting the Museum of Tolerance in Los Angeles. Izzy’s passion for human rights goes back to 1973 when he tabled the first Bill of Rights in the Manitoba Legislature.” (Asper was leader of the Manitoba Liberal Party at the time. I remember interviewing him for a paper I was writing about the Manitoba Liberal Party.)
During the course of that evening, Levy said, Izzy broached the idea of building a human rights museum in Winnipeg. “Later that night, around midnight,” Levy continued, “the phone rang.”
“It has to be Izzy,” Moe’s wife (the late) Barbara said.
Picking up the phone, Levy observed that Izzy told him, “You know that idea we spoke about tonight? After you left, I went downtown and I found the land that we’re going to build this museum on…It’s the same site on which the museum is located today,” Levy noted.
“But,” Levy added, Izzy also told him: “It’s Tuesday night. By Friday I want you to get the land – to tie up the land.”
“But Izzy,” Levy said he asked Asper, “there are a lot of levels of government to go through.”
“Don’t worry,” Asper replied, “Just tell the guys I sent you and it’ll get done.”
Levy told a story about the first trip he took with Asper. It was on Asper’s private jet; they were flying to Toronto. As you might expect, if you knew anything about Izzy Asper, “the cabin was full of smoke.”
The purpose of the meeting was to meet with “two of the most important Zionist figures” in the history of Israel, Levy said: “Smoky Simon – who created the Israel Air Force; and Harry Horowitz” (who had deep roots in right wing Zionist causes, according to information on the World Zionist Organization website). Simon and Horowitz wanted “to get a million dollars for the Menachem Begin Centre.” (Incidentally Levy also mentioned that Horowitz had once come to Winnipeg at Sid Halpern’s invitation. Sid Halpern is a regular attendee at the Remis Grooup Luncheons and Levy was looking right at him when he made that remark.)
(What I find so contradictory about Izzy Asper, however, was that, as a supposed staunch defender of human rights, his actions belied the notion that he was a champion of human rights. Anyone who admired Menachem Begin, for instance, could hardly have been considered an advocate for human rights – unless by human rights you meant the rights of certain groups, but not others. Oh well, we’re all full of contradictions, aren’t we?)
Levy went on to describe his “life with Izzy as nothing short of amazing, exhilirating, exciting, such as “putting together the jazz series…” Apparently, according to Levy, Asper would go so far as to choose the playlist for any jazz concert performer (sounds like Trump), but “come Monday morning,” Levy said, “I would receive a memo from Izzy saying they did not play the playlist in the order I gave it to them!”
Also, according to Levy, Asper couldn’t just sit back and enjoy the jazz concerts. Instead, he would head up to the top of the Berney Theatre (home to the Asper Jazz Series) and “count the empty seats.”
Again, in addition to complaining about artists not following his playlist instructions, Asper would complain about empty seats in that same Monday morning memo. Since the concert series was invariably sold out in those years, any empty seat signified a subscriber not having shown up.
In that same memo Asper would complain, for instance, that “there were 17 empty seats. Those subscribers could have given their seats to someone else!”
The subject of Holocaust education was also something that was very important to Asper, Levy noted. “Izzy recognized very early on that we needed to reach not the Jewish kids, but the non-Jewish kids, so that over the course of time we’ve sent 14-15,000 kids on trips to Washington” (to visit the Holocaust Museum).
Another memorable incident which had a connection to Asper and in which Levy played a part, albeit a minor one, was “the Concordia riot” of 2002.
“Concordia” (University, in Montreal) ” was a hotbed for antsemitism,” Levy explained.
Along with Rabbi (Joshua) Poupkow, who was from Montreal, Levy and Asper decided (in September 2002) that it would be a good idea “to bring BB Netanyahu to Montreal to speak at Concordia. He (Netanyahu) was in between jobs, after serving as Finance Minister (of Israel), then Prime Minister, he was on the speakers’ circuit. So, we paid him …to come for three lectures: Montreal, Toronto, and Winnipeg.” (Levy wasn’t sure whether the exact amount Netanyahu paid should be published, so I won’t repeat the figure here. Suffice to say, it was a huge amount.)
“We knew that” the pro-Palestinians had as their aim that, “if Netanyahu shows up, he’s never, ever going to speak at Concordia. So this became a major challenge for Izzy. ‘I’m going to bring him here (Montreal) and I’m going to make sure he speaks,’ ” Levy said was what Asper wanted to do.
“Of course, BB always wanted to fly on a private jet, so Izzy – who had other things to do, told me to take his private jet and go pick up BB.”
“So I flew on Izzy’s private jet to pick up BB. I’ll never forget – his wallet was about this thick (and here Levy gestured with his fingers showing how thick Netanyahu’s wallet was) and it was full of thousand dollar bills,” Levy observed.
“Anyway, by this time, the press is full of stories – about how students are going to stop him from speaking,” Levy said. “So we land – and Netanyahu has one security guy with him and, I’m not kidding, he was about this high (gesturing to show that he was very short). But he had a lot of guns on him. I don’t know how many.”
“There are about 20 police cars waiting for us and they wouldn’t let the security guy off the airplane with the guns, so we sat while” diplomats negotiated how many guns the guard might be allowed to take with him and, in the end, “he was allowed to take one gun with him.”
As one might have expected, there was a huge crowd of demonstrators surrounding the hotel where Netanyahu was staying (the Ritz-Carlton).
Netanyahu though, was determined to speak at Concordia. However, his “security guy got on the phone with the Mossad in Israel and they said there was no frigging way they were going to let him speak. So his security guy told him he’s not going anywhere.
“But BB, all of a sudden, decides he wants a haircut. Someone tells him there’s an Arab barber in the basement. He was asked whether he was okay with that?”
He answered, “absolutely.”
Levy described the ensuing scene: There’s BB sitting in a chair, with this “Arab guy giving him a haircut,” while BB’s security guy has his hand resting over his jacket where his gun is – ready to spring into action if needed.
The upshot was that BB “was not allowed to speak.” A riot did take place at the Sir George Williams campus of Concordia University. Levy noted that there were two documentaries made about the riot, (one by the National Film Board, titled “Dicordia,” and the other by filmmaker Martin Himel, titled “Confrontation at Concordia.”)
Another story Levy told was about a meeting held between Asper and then-Prime Minister Jean Chretien to discuss federal funding for the Human Rights Museum. (Levy says the meeting was held at the Prime Minister’s residence in Ottawa, but every other source that I was able to check referred to a meeting at Izzy Asper’s Palm Beach residence, in 2001. Perhaps there were two meetings.)
In either event, Levy said that, as the only other person in the room during that meeting, he was fascinated with the notion that the most powerful man in Canada at the time, Jean Chretien – according to Maclean’s Magazine, was meeting with the second most powerful man, Izzy Asper, again – according to Maclean’s Magazine,
As Levy described it, “there’s these two guys, arguing over how much money” the federal goverment would be willing to commit to the building of the human rights museum. “There was something explicit going on between these two guys. I thought: ‘You two guys use that kind of language with each other?’ “
Asper always liked to dream, Levy noted. For example, where the skating rink now sits on the Asper Campus, “he wanted to build a 500 seat concert hall,” Levy said.
He told another story about a trip Izzy and Gail Asper took one day in 1999 to Steinbach, where they were supposed to meet with Chuck Loewen of Loewen Windows. The purpose was to hit up Loewen for a contribution to the Canadian Museum for Human Rights, which was still only a dream that Izzy wanted to bring to fruition at that point. Although one of Canada’s most successful businessmen by then – perhaps actually the most successful at that time, Izzy was not above doing the grunt work that was indispensable to raising enough money for the museum project – so that eventually the idea was that with enough privately donated money, it would leverage the federal government into contributing to the project as well.
Levy said that, while sitting in his oiffice, he got a call from Gail, who said, “Moe, we’re at Marion and Lagimodiere. How do we get to Steinbach?” It turned out they were in the wrong lane, but eventually, after much explaining which way to go, Izzy and Gail did make it to Steinbach, Levy observed.
Levy recalled the say he heard the news that Izzy had suffered a massive heart attack – and had died. “It was October 7, 2003, and we were on our way to Vancouver to launch an international architectural competition” for the design of the new museum.
Izzy Asper’s funeral was one of the largest ever held in Winnipeg. It attracted former prime ministers, the then-Prime Minister (Chretien), and a host of dignitaries from all walks of life. The day that Izzy died, Levy added, he was supposed to have received an honourary Indigenous title from Manitoba Grand Chief Phil Fontaine, which, translated into English, Levy explained, was “He who walks among the stars.”
Levy said: “What can I say about Izzy except that he was charismatic, a raconteur, bon vivant, had a great sense of humour, was an entertainer…he lived a hundred lives.”
Later in his talk, Levy added this about Izzy Asper: “He was the kind of guy who made you think you could accomplish anything. He made you sit there – and imagine and, before you knew it, you were doing things well beyond what you thought was your own capacity.”
In describing the effort that went into fundraising for the museum, Levy noted that “When you think about it, 75% of the money privately raised came from this little city (Winnipeg) – $115 million.” That fact was pivotal in then-Prime Minister Stephen Harper’s coming forward with a major contribution from the federal government: $100 million plus $21.7 million annually for operating costs.
Turning to Izzy Asper’s “passion for Israel,” Levy described Izzy’s support for the Hebrew University of Jerusalem, saying that Izzy was determined to undertake the human rights museum project without sacrificing any of his commitment to the State of Israel.
Levy noted that “in a month the Hebrew University is going to celebrate its hundredth anniversary. Who was there (at its founding)? Einstein, Freud, Buber – the greatest minds that ever lived,” he suggested.
Features
Author and lifelong nurse Tilda Shalof’s new book a guide not only for young nurses but one that will appeal to a wider readership
By MYRON LOVE Tilda Shalof’s most recent book – “The Handover – a Nurse’s Last Shift” was, in the words of its author, “written for the general public, to understand nursing. Nursing is everyone’s concern, not just nurses. The general public has a stake in the matter,” she observes.
I can guarantee that there are plenty of stories and anecdotes that the author shares from her own experiences that will also be of interest to a wider readership. I certainly enjoyed the book.
The title – “The Handover,” she explains, is the regular exchange between nurses going off their shift and the nurses beginning the next shift, during which the outgoing nurses pass on all relevant information about the patients under their care to the incoming nurses. A recurring thread throughout the book – of close to 400 pages – is the retiring Shalof’s interaction with three student nurses whom she had recently befriended through one of her many speaking engagements. In particular, Shalof gives co-writing credit to one Lisa Mochrie – a nurse who the author acted as mentor to during Mochrie’s last period as a student and continuing through her early nursing career.
There is a tendency for many people to take for granted people I would describe as working in a service capacity such as nursing. One of the reasons that Shalof points out in her book for our ongoing nursing shortages is that young men and women are more likely to be encouraged to pursue a medical career (to be a doctor) than a nurse. This, she points out, despite the fact that hospitals can function without doctors – but not without nurses.
Some other factors, she notes, are the ever increasing demands of documentation – which detract from patient care – and regulations, which have taken much of the satisfaction out of the profession.
In an interview with this writer, she observes that Jewish nurses are few and far between because nursing is not a profession that most Jewish families encourage. (I can only name a handful of Jewish nurses that I have known or have come across.)
She spoke about how she became a nurse early in life to her aged and ailing parents – being the only daughter – (she has three older brothers) and the last of her siblings to leave home. In “The Handover”, she also makes frequent reference to fictional nurse Cherry Ames – the heroine of numerous books written between 1943 and 1968 – as inspiration for Shalof’s choice of career.
For the first 30 years as a nurse, Shalof worked in an intensive care ward at Toronto General Hospital. She subsequently worked for a short time at an HIV clinic and, later a hospital day clinic and a neurosurgery unit. She also spent several summers as a camp nurse at a Jewish camp while her kids were campers there.
“The Handover” is Shalof’s seventh book. Her first book, published in 2004, was “A Nurse’s Story,” chronicling her experiences over 30 years as an ICU nurse. Among her other books are:“Camp Nurse,” recounting anecdotes from her time working summers at her children’ summer camps, and “Opening My Heart” – an account of the profession from the point of view of a patient after she had open heart surgery.
Coincidently, she notes, she began her first book around the time of the SARS outbreak in Toronto in 2003. Shalof says she started writing her latest book at the height of the Covid lockdowns, which she references from time to time in the book. .
The approach Shalof has taken in writing “The Handover” – following a foreword and introduction – is literally an A to Z overview of everything there is to know about nursing – with each chapter focusing on one specific letter of the alphabet. Each chapter relates her thoughts and tells anecdotes from her own nursing experiences over 40 years in the profession, as well as her interactions with Lisa Mochrie and the other two student nurses as they transition from students to professionals.
In her conclusion, she observes that “nursing can be a path to making a difference – having an impact. It can be a front row seat at the theatre of life. Or it can be a job, a way to make a living and help support your family. “
Most importantly, she added, “make sure you try to have some fun. Do everything in your power to enjoy being a nurse”.
Although the now 67-yeear-old author is retired from the practice of nursing, she remains in demand as a speaker and advisor. She continues to get calls from throughout North America seeking her advice.“The Handover” is available from the University of Toronto Press.
Features
Michael Mitchell: His Labour of Love in Law
By GERRY POSNER The Mitchell name in Winnipeg has been around a long time and much of the the name recognition stems from the long connection of the family to a business known as Mitchell Fabrics, a mainstay on Main Street for many years. Established by Mendel Mitchell generations ago and not closed until 2017, many family members, including in-laws, worked there as managers, students and retirees. And yet, the family vocation was not limited to just the business, t it stretched out into the world of law, and more specifically the field of labour Law. One particular Mitchell reached the peak of all aspects of Labour Law. Three Mitchells: Leon, son Grant (a senior management side labour lawyer in Winnipeg), and daughter April Katz (an academic at the University of Victoria Law School), had stellar careers in that field. Yet another Mitchell, Michael, also achieved great acclaim as a labour lawyer. Michael, a product of the south end of Winnipeg, is the son of the late Harry and Gertrude (Sirluck) Mitchell, so he has some impressive genes going for him. But he has added to the story immeasurably.
Perhaps it all began for Michael Mitchell when he graduated from what was the first and only Grade 7 Hebrew school class at Herzlia Academy. He later was Regional Vice-President of AZA in his teenage years. After two years at Joseph Wolinsky Collegiate and two more at Grant Park High School, Mitchell went off to the University of Manitoba for his first year and then on to the University of Toronto, where he obtained a BA in Political Science. Then came law school, also at the University of Toronto, from where he graduated with an LLB in 1975. Along the way, he married the former Lynne Berman ( also from Winnipeg).That union produced three Mitchell daughters, two of whom are physicians – in psychiatry and neurology respectively, while the third is a pioneering pre-school educator. Michael and Lynne also have six grandchildren.
For a large part of his career as a lawyer, Michael Mitchell practiced law in Toronto as a senior partner in the firm of Sack Goldblatt Mitchell – from 1980 through 2014, having joined the firm in 1975 as a student. The firm was committed to the union side practice of Labour and Employment Law. Not so surprisingly, he had to appear at all levels of courts, also administrative tribunals.To his credit, his work and impressive track record was recognized by his peers as he was named a leading labour lawyer in Canadian Lexpert Directory and was frequently recommended in Best Lawyers in Canada. Between 1982- 2006, Mitchell was also the managing partner of the firm, which suggests to me an ability to manage people, not an insignificant skill. During his tenure as the managing partner, the law firm grew from just under ten lawyers to over fifty, with offices in both Toronto and Ottawa. His responsibilities were firm leadership, strategic decision making and financial management.
But, what a career Mitchell has had. For starters, aside from his time as a practicing lawyer in the field of labour law, he has, since his leaving the practice, just changed hats. From 2015 to 2018, he was part time Vice-Chair of the Ontario Labour Relations Board and, from 2018 as of this moment, he has become full time Vice-Chair at the same Ontario Labour Relations Board. Needless to say that, over the course of his administrative work since 2015, Mitchell has been at the centre of some significant decisions and, if you are interested, I can direct you to the selected substantive decisions in which Mitchell has been involved.
Moreover, Mitchell has worked and continues to work in the area of mediation and arbitration of both labour and indeed civil law. This is a large area, to put it mildly. For starters, there is the entire field of grievance arbitration. To be involved in cases of this kind, your name has to be put up by one of the parties and often agreed to by the other party. That means you have credibility with both of the protagonists. Mitchell clearly has that kind of reputation and draws support from both sides of the aisles – as it is referred to in some circles. He has been an arbitrator/ referee in many cases, including the famous 1986-1990 Class Action settlement related to individuals who had contracted Hepatitis C. Further, he has conducted numerous civil mediations related to employment, contracts and human rights matters. Mitchell also mediates and arbitrates collective bargaining disputes.
One of Mitchell’s’ main achievements was that he was invited between 2015-2017 to be a Special Advisor (with capital letters, no less) to the Ontario Minister of Labour with regard to the Changing Workplace Review. This was a landmark review of the Ontario Employment Standards Act and the Labour Relations Act where he, together with Justice John Murray, recommended many legislative changes to protect workers from the negative impacts of precarious employment. The best part of his work was that many of th recommendations were actually adopted. Other recommendations remain for future governments across the country to consider.
If you really want to delve into the Michael Mitchell career, you should know that, over the span of his career there are many publications that he has authored. The main one is his textbook on the Ontario Labour Relations Board, which he co-authored with his early mentor, Jeffrey Sack, and which remains the leading authority on the Ontario Board.
Mitchell comes by his passion for labour law honestly. His uncle, Leon Mitchell, was an iconic force on the union side in his practice of law in Winnipeg and was the inspiration for Michael to enter law to become a labour lawyer in the first place. In fact, it was Leon who introduced Michael to a man in Toronto who recommended Michael to connect with an up and coming labour lawyer in Toronto named Jeffrey Sack K.C. That connection resulted in the Sack Goldblatt Mitchell law firm. As well, Michael was well known to Sid Green during the early years of Sid’s law career, also his early days as a Cabinet Minister in the Schreyer NDP government. Sid was a person who exerted a significant influence on Michael.
With all that on his plate, Mitchell found time to be the president of the Darchei Noam Synagogue in Toronto between 2004-2008. He has also been the president of the Jewish Reconstructionist Federation of North America. During his term, he led the merger negotiations which ultimately resulted in the current structure of that movement ,which is now referred to as Reconstructing Judaism. Its singular aspect is that it consists of a single organization combining congregations plus a Rabbinical School. That was enough to get Mitchell an invitation to attend one of President Obama’s Chanukah parties at the White House during the Obama term. As well, to this day, Mtchell sits as a Director of the New Israel Fund of Canada.
Mitchell has his feet still planted in Winnipeg. His two sisters live there, as well as Lynne’s sister. In fact, he just visited Winnipeg for his sister Ruth Ann’s and Paula’s 85th and 80th birthdays respectively. And to keep up to date, Michael and Lynne Mitchell have long had a subscription to the Jewish Post.
In short, at just under 80, Michael Mitchell is moving like he is eighteen. The longevity of his career may soon rival the longevity of the family business, Mitchell Fabrics.
Features
Building Credit in College for Future Real Estate Deals
Most college students aren’t thinking about mortgages. But the students who buy their first investment property at 25 or 27 started building credit at 19 or 20. The two are directly connected.
Real estate is a game of capital access. Lenders don’t care how motivated you are – they care what your FICO score says. A 760+ score gets you prime mortgage rates. A 620 gets you higher interest and fewer options. The difference in monthly payments over a 30-year mortgage can be tens of thousands of dollars.
The window you have in college to build credit without major financial pressure is one of the most underused advantages Jewish students have.
Credit Foundations: Where To Start
Your credit score is built from five factors. Payment history makes up 35% – the largest single component. Credit utilization (how much of your available credit you’re using) accounts for 30%. Length of credit history, credit mix, and new inquiries cover the rest.
For most students, the first practical step is a secured credit card or a student credit card. Secured cards require a deposit that becomes your credit limit – typically $200-$500. They report to all three major bureaus and build history the same way unsecured cards do.
The rules are simple but require consistency. Pay the full balance every month. Keep utilization below 30% of your limit. Don’t apply for multiple cards in a short period. These habits compound over years – a student who starts at 18 has 7 years of credit history by the time they’re ready for a first mortgage.
One underused option: ask a parent or family member to add you as an authorized user on an older card with a clean payment history. You don’t need to use the card. The account’s age and payment history get added to your credit file immediately.
Researching Investment Options During Studies
Business, economics, and finance students regularly analyze real estate markets as part of their dissertation. That work isn’t just academic – it’s actual market research that doubles as preparation for real investing decisions.
However, balancing dataheavy analysis, market research, and exams often leads to extreme burnout. To survive the final semester, many students look for external support. Some of them use EduBirdie – best dissertation writing services for timely delivery and consistent quality on deliverables when the research load is heavy. Outsourcing the formatting and drafting frees up time to dig deeper into the actual market data that matters for real investment decisions. The analysis you build during college becomes your knowledge base before you ever make an offer.
Smart students treat every finance and real estate assignment as a portfolio of personal research. That perspective shifts the work from obligation to investment preparation.
How Student Loans Affect Your Future Mortgage
This is where many graduates get surprised. Student loan debt directly affects your debt-to-income ratio (DTI) – a key metric lenders use in mortgage approval. Most conventional lenders want your total monthly debt payments to stay below 43% of gross monthly income.
If you graduate with $40,000 in student loans at a standard repayment, your monthly payment is roughly $400. That $400 counts against your DTI before you add a car payment or rent. Managing your loan balance and making consistent payments not only builds credit – it keeps your DTI workable when you’re ready to buy.
Income-driven repayment plans can lower monthly payments but extend the loan period. For mortgage purposes, lenders typically use the actual monthly payment shown on your credit report when calculating DTI.
Practical Steps For Building Credit In College
Keep Utilization Low
Staying under 30% of your credit limit matters more than most students realize. If your card limit is $500, that means keeping your balance below $150 before the billing date. Paying in full each month handles this automatically.
Monitor Your Score Regularly
Free monitoring is available through Credit Karma, Experian, and most major banks. Checking your score doesn’t hurt it. Set up alerts for new inquiries, changes in balance, or any accounts you don’t recognize. Catching errors early prevents damage that takes months to fix.
Build Your Credit Mix Over Time
Lenders like to see that you can handle different types of credit. A student card, a small personal loan, and eventually a car loan create a credit mix in college that strengthens your profile. Don’t open accounts you don’t need, but don’t avoid credit out of fear either.
Here’s a practical credit-building checklist for college students:
- Open one student or secured credit card and use it monthly
- Pay the full balance before the due date every month
- Keep utilization below 30% at all times
- Become an authorized user on a parent’s old card if possible
- Check your credit report annually at AnnualCreditReport.com
- Make all student loan payments on time once they enter repayment
- Don’t close old accounts – account age matters
Understand What Mortgage Pre-Approval Requires
When you eventually apply for a mortgage, lenders will look at your FICO score, DTI, employment history, down payment, and reserves. The credit score threshold for a conventional loan is 620, but most competitive rates start at 740 and above. FHA loans allow scores down to 580 with a 3.5% down payment.
Starting to build credit at 18 or 19 means arriving at your first mortgage application with 6-8 years of credit history. That length alone adds 15% of your score. Combined with responsible utilization and clean payment history, you can realistically hit 740+ before you graduate.
The Long Game
Real estate investing after college isn’t a fantasy – it’s a planning problem. The students who pulled it off didn’t get lucky. They started building credit years before they needed it, kept their DTI manageable, and used their time in school to understand the markets they wanted to invest in.
The credit habits you build now are the credentials lenders will evaluate later. Start with one card, pay it in full, and let the history accumulate. Five years from now, that consistency becomes a mortgage approval and the keys to your first property.
