College Student Credit Card Debts

The college student credit card debt issue could be a problem for students who are already heavily burdened with loan fees. As students are targeted by credit cards offering funding at high interest rates and fees, these offers may be tempting. But, individuals are accumulating college student credit card debts and getting overwhelmed with the inability to make the payments. People should be coached and taught how to adequately handle financing and not become overwhelmed by payments and financing before even graduating from school. Debt should not be a burden to students graduating and embarking on new and responsible adult lives.

Many university students are becoming heavy laden with college student credit card debts. When exams and getting through a class should be a person's biggest worries, these individuals are finding collection agencies and the other stressful results of debt accumulation as the main concerns. Heavy college student credit card debt can increase a student's chances for dropping out of school, as they leave to find work to pay on their obligations. Research has shown that over seventy-five percent of university attendees carry obligations of over $2000.00.

Those attending universities are prime targets for creditors looking to extend financial lines at high interest rates. Introductory offers may sound appealing to students who do not posses the experience of managing financial matters. The temptations to buy now and pay later, is increasing college student credit card debts alongside of the individual's loans and tuition. Young adults who graduate with college student credit card debt and large loan bills are facing difficulties in getting their financial lives started, and many are beginning their first years of responsibility with poor financial history.

There are avenues that parents can take when facing college student credit card debt temptations. First, parents should teach their college bound high school children how to spend responsibly, explaining that buying now and paying later is spending future earnings, and paying a higher price with interest rates. Parents can also advise their teenage children to take financial classes and help them create a budget and review this budget monthly, making sure that the children are meeting expectations. The Internet offers a variety of financial courses and counselors who can advise parents and their children about financing and help students eliminate existing college student credit card debts. Before sending children to college where they may face temptations too great to refuse, parents should equip their children with financial skills, like budgeting. "Train up a child in the way he should go: and when he is old, he will not depart from it." (Proverbs 22:6)

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