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Students in credit card trap
Credit card debt, the bane of modern America, has tainted young students as well. The average student today has a credit card debt that ranges between $3 and $7,000. So, when they graduate from college, these youngsters already shoulder a heavy debt burden. And this is in addition to their student loans!
And the worst part is that credit card companies are targeting a very young segment. Students, who are still to cross the age of 20, roam around with four or five credit cards. An alarming trend shows that even before they enter college, these youngsters are propositioned and charmed by credit card companies into taking cards. Thetraveleronline.com reports:
A recent article in USA Today stated that 23 percent of college students have gotten credit cards before they entered college, said Joel Doelger, Director of Counseling for Credit Counseling of Arkansas. Debt from those cards can begin to accumulate as early as freshman year because when students enter college, they are targeted by credit card companies as potential new customers.
Read more: Student credit card debt in the thousands
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