College Student Credit Card Debt Growing
Friday, April 24th, 2009Each year as students enter college, begin to buy their class books, clothes, furniture – and so on, more and more students are paying for their purchases with their credit cards. Almost two-thirds of college students have at least one card, 70 percent pay their own monthly bills and 24 percent have used their cards to help pay tuition.
For many young adults, college is their first taste of the real world. Until now, they’ve lived at home with their parents always nearby and around to look out for them. But now, for the first time without parental restrictions, they embark on the journey of discovering who they really are. As always, part of that self discovery needs funding. And the credit card companies waiting in the wings are more than willing to start the students off on the “right” foot by advancing them loans in the form of one or more credit cards.
Read more at college student credit card debt statistics 2008
