Student Credit Cards
Below is an article relating to credit and debt.
Student credit not out of control?
The warnings over the past few years about college students getting too deeply into credit card debt might be sinking in. A study of about 310,000 credit card accounts found little difference in the way students and older adults use their credit cards.
About 88 percent of students' accounts were paid up, compared with 92 percent of older adults and 88 percent of young adults not in school. The average college-age balance was $552, compared with $1,465 for young adults and $2,342 for older adults.
However, the percentage of delinquent accounts was higher among students (12 percent) than adults (8 percent).
The report is published in the November issue of the National Association of Student Financial Aid Administrators' Journal of Student Financial Aid.
The study was conducted by the Georgetown University Credit Research Center, with account data from active accounts from 2000 to 2001. The work was a continuation of a General Accounting Office study begun after members of Congress became alarmed about students' abuse of credit cards.
Date: Nov. 01, 2004
The Associated Press
|
| 
|
