New York College Debt

Students graduating from upstate New York colleges will carry into their new lives a credit card debt of over 770 million dollars. That is an average of $2,300 for each 18 to 24 year old student. Fifty-three per cent of Freshmen have a credit card, usually given to them by their parents. By the end of the Sophomore year 75 percent of the students will have at least one card. On average, each student will be carrying over 4 credit cards by the time they graduate.

The temptation is hard to pass up. Mass mailings to students promise low interest rates, high credit limits, no membership fees, and all you have to do is call. Besides, it would be so much easier to carry a credit card than a check book. The book store, not to mention the local merchant, accept them and you don't have to have all sorts of proof of who you are. The call is made and all too soon you are a statistic. Another college student in debt. Quoting Senator Charles Schumer, "graduates are not only leaving colledge with a diploma this May, they're also leaving campus with mountains of credit card debt." Credit cards should be a leg-up for college students, not a leg-trap that snares them in unbearable debt.