Students Charging to the Limit

A

new survey from Oppenheimer Funds and Smith College's Women

& Financial Independence Program shows that over 65% of college

students are carrying credit card debt, and that over 50% push

the card to its credit limit at least some of the time.

Average

credit card debt among the survey respondents was $2400, and

female students are more likely to have credit card debt and

a larger overall debt burden

Against

all expert financial advice, most students used their credit

cards for day-to-day living expenses in addition to long-term

uses.

Published 08/18/05 (Modified 05/07/12)