Students Should Not Have Credit Cards in College

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Students should not have Credit Cards in College EM Swiams Com 156 2/20/2011 Elizabeth L. Vunk Credit card companies are marketing on college campuses that have led to a growing trend of young adults, in America, becoming trapped in the financial nightmare of high debt acquired while in college. Many things transpire quickly when a young person leaves high school and starts off for college. For those moving out of his or her parent’s house, there are dwelling arrangements, food and spending money to be considered. Depending on the level of support from the parents, the student also needs at least some financial income for food, supplies, entertainment, etc. When both the parental support and other income do not fill the need or desire of financial independence students are more increasingly turning to credit cards. Credit is needed to establish a credit history, young students between the ages of 18 and 25 often enter contractual agreements with credit card companies either uninformed or mislead. Many credit card companies are increasingly marketing on college campuses. Students are the prime focus by certain financial institutions because they lack the financial knowledge to know the terms of the credit account versus what cannot be covered by the student’s current income. Simply put, these financial institutions are offering gimmicks such as pre-approved accounts at terms that cannot be repaid with a minimum wage job. Students are of the age that their parents do not need to know that the even applied for a credit card until they have gotten themselves into trouble with them for nonpayment. This trend has many college students becoming trapped in the financial nightmare of high debt acquired while in school. As a result, it has become the burden of many parents to cover the costs of the overall debit after the fact. These will re-pay the debt to save

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