Did you know that 21% of all college students graduate having over $7000 dollars in credit card debt? Amazingly 83% of all college students have at least one or more credit cards and actively use them in daily spendings such as paying for gas, clothes, books, food and board. College students that max out their credit cards and then make only the minimum payments on them, it will take over 8 years to pay their credit card debts.

It is recommended that instead of seeking out the approval of credit cards, to get a part time job during your college days to use that money in replace of a credit card. Also college students have the option of seeking out a low interest education loan which would have cover the cost of tuition, books and housing. College students are leaning these financial lessons the hard way.

Here is a very touching video I found on YouTube that illustrates many of these facts and how it has impacted the life of one college student who is now working hard at getting out of credit card debts during her college years.

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Filed under: Credit Card Debt

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