Be Wary Of College Credit Card Debtby Michael DeMarkks
Many students, who are in college, face a debt problem some time or the other. Most of these debts are college credit card debts. While pursuing education, those college years can be really hard to get through and before you know, you will be in a college credit card debt. It is entirely possible to avoid the mounting debts on the college credit card. All that is needed is some discipline and follow some things.
College credit card debt can start as early as the very first card. Companies want to gain customers early, so they offer cards to students as young as 18 and 19. The sudden credit seems like free money. Students who spend up to their credit limits on their first cards set themselves up for credit card debt throughout their lives.
Once students approach the age of 21, things change. At that magic age, students are suddenly able to (legally) drink, whether they are mature enough to handle it or not. They buy drinks at local bars and spring break destinations alike. They spend while they have little to no income, which increases their debt.
In the end, either the parents have to cough up the dough or the students end up having that sword of debt hanging over their heads as they prepare to leave college and enter the real world.
Education and helping with future plans is the key. By helping a student take control of his finances and plan for the future, you can keep his adult life from starting off deep in debt. Students also need to take personal responsibility for their financial decisions and do their best to prevent the accumulation of credit card debt.
About the Author:
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Originally posted 2008-08-10 06:35:42. Republished by Blog Post Promoter