Credit card debt on campus

Credit card debt on campus - Credit card debt is not a fun...

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Credit card debt is not a fun thing to deal with for anyone, but it could possibly be worse for college students. How good must it feel to graduate college and be in debt thousands of dollars? I know I would be worried as hell. Being in debt is a bad start to the rest of your life. It may seem that banks and universities do not care, though. As long as they are making a profit all is good. For the students, though, all is not good. They are in debt and some feel that they were not prepared properly. But preparation is not the problem; most of these students have bad spending habits and no excuses. Either way, debt for college students should not be an option for them and is a big issue. This issue is a hard one to find any one group or person to put blame on. Universities such as Michigan State have contracts with banks such as Bank of America in which the university gives the bank student information and the school logo in turn for money when students take the bank’s credit cards. This money is usually given to alumni associations and student scholarships (Glater). Most students are presented with the idea of credit in college. They see an opportunity to have the power to spend money beyond their wildest dreams, and now students across the nation are faced with the problem of debt. The blame could go either way; banks and universities provide credit cards to college students which gives them the option to go spend money and students are the ones who actually go out and spend the money. Whether it is for educational purposes or for their own emotional pleasures, money is spent. No matter who the blame goes to this is an issue that should be solved in one way or the other. Sometimes the reason students get credit cards is because they are lured into it. Whether it’s good advertising or out of necessity the reasons for getting credit cards vary. Many banks set up tents with a variety of freebies to reel students in to getting credit cards (Dickler). Free t-shirts, blankets, and food are a couple of examples of things that are used to trick students into getting a card. Ryan T. Muneio was
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This note was uploaded on 02/24/2010 for the course ENGL 1001 taught by Professor Misc during the Spring '07 term at LSU.

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Credit card debt on campus - Credit card debt is not a fun...

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