Study: Over Half of College Students Have Credit Cards
Study:
Over Half of College Students Have Credit Cards
The Associated
Press is reporting today on an analysis by the American
Council on Education that finds over half of college students
have their own crtedit cards, and 40% of such students carry
balances month to month, meaning they are paying interest on
their purchases. (Index Credit Cards estimates the average
student credit card rate at 16.31%.) Further, about a quarter
of students with had credit cards had used them to pay college
tuition.
As
might be expected, older students had accrued more debt over
the course of their college careers, while freshment had less
debt. Students from poorer families were more likely to carry
balances than students from higher-income families.
