Friday, December 16, 2011

Credit card debt plagues college students

Credit card debit is a problem encroaching on many college students as they begin to become more financially independent.

A survey regarding credit card use that was distributed to a random sample of 100 CSM students showed that nearly half of them use credit cards. 67 percent of students do not use their parent's credit card, meaning they already started to work on their credit history.

Credit cards help students start their credit earlier for future important purchases such as a home or a car, said Ben Peras, Bank of America branch manager of the El Camino branch in San Mateo.

"Anybody 18 and over can have a credit card, and in some cases they need a cosigner that is usually a parent," he said. Read Full Story

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1 comment:

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