Many young adults experience their first taste of freedom during their college years. Unfortunately, credit card companies aggressively market to college students that are unaware of the consequences of credit cards debt.
Approximately 21% of college students graduate with nearly 7,000 dollars in credit card debt. Despite the fact that more and more college students graduate deep in date, there is currently no law or regulation limiting the predatory practices of these credit card companies. Credit Cards are easy to get and credit card companies understand that young students are naive when it comes to money and finances.
Avoiding credit cards during school is the best choice students can make. It is much better to get a part time job to pay for the necessities while avoiding the luxuries until after graduation.
More importantly, if campuses continue to allow credit card companies to aggressively target students, then they arm students with debt awareness by making personal finance classes as mandatory as Algebra and English.
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