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.
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