How Students Can Avoid Credit Card Debt
Much of Student Debt is Actually Credit Card Debt
Student debt -- it’s a fact of life. Unfortunately most people don’t go away to college without racking up some form of debt. However, what may be surprising to many parents and students is that a good portion of student debt is actually credit card debt. Think you’re destined to fall into the credit card debt trap? Think again.
The Numbers are Shocking
Some studies have shown that approximately half of the college students out there don’t just have one credit card, they have more than one credit card. Having multiple credit cards can put you at more of a risk of racking up student credit card debt. A wise bit of advice would be to have just one credit card when you’re going off to college, to make sure it has a low credit limit, and to use it only in case of an emergency.
Let Your Parents Review the Statements
Have your credit card statements sent to your parents’ home and let them review your credit card statement each month. This way you’ll have an objective eye telling you whether or not your lying is getting out of control.
By following this advice, you’ll be able to avoid racking up too much credit card debt that you can handle.