Student Credit Card Debt

Majoring in Debt As credit cards become increasingly available, student debt rises. The Facts NO 1- -NO 2 NO 3 A study released in 2013 found that students are taking on more credit card debt than ever before. In addition, it is taking them longer to pay off than previous generations. Many will be paying back this debt well into their 70's. Students tend to $$$ not pay attention to the fees and rates that are linked to their cards. It's reported that only 25% know how these fees work. 20% of 18-24 year olds consider themselves to have "debt hardships". Averages In 2014, the average credit card debt for an undergraduate student is $3,000. $3,173– By the time they graduate, will rise to $20,000. $20,000 76% 32% have 4 or more cards of college students have a credit card Sources http://www.huffingtonpost.com/jeff-hindenach/young-adult-credit-card- debt b_2488930.himl http://www.statisticbrain.com/credit-card-debt-statistics/ http://www.consolidatedcredit.org/personal-finances/college/credit-on-campus/#back M MASTRIANI LAW FIRM Founded in 1989