Student debt: College students rup up...

Student debt: College students rup up debt by using credit card...

There are 20 comments on the South Florida Sun-Sentinel story from Apr 13, 2009, titled Student debt: College students rup up debt by using credit card.... In it, South Florida Sun-Sentinel reports that:

College students are using credit cards more than ever to pay for their education, and they're carrying high balances on those cards, a new report suggests.

Join the discussion below, or Read more at South Florida Sun-Sentinel.

DAS

Jupiter, FL

#1 Apr 13, 2009
And BOOZE
DAS

Jupiter, FL

#2 Apr 13, 2009
And DRUGS
CoCo Puff

Waxhaw, NC

#3 Apr 13, 2009
We taught them well, didn't we?
Bad Idea

Tampa, FL

#4 Apr 13, 2009
Didn't Obama want to lower tuition for college students?
the navigator

Redmond, WA

#5 Apr 13, 2009
Bad Idea wrote:
Didn't Obama want to lower tuition for college students?
You can save a whole lot of money if you sign up for ROTC. The catch is,you owe your Uncle some time.
Bob

Hollywood, FL

#6 Apr 13, 2009
What's new? It's the same thing my generation did in the 1960s. And some 1960s students are paying off their 1960s student loans now with their social security checks. It goes around, it comes around. Nothing new here except they're going to pay off this stuff themselves. This Dad ain't gonna do it.
enough

Tarzana, CA

#7 Apr 13, 2009
Now really, the freeloaders called illegials get it all for free. Think of the Dream Bill sitting before congress that will continue to pay these illegial freeloaders tutition, books etc while our kids struggle.

Give Credit where credit is due
Black Eye

Reno, NV

#8 Apr 14, 2009
Wait till they graduate college and can't find a job! Makes the whole college experience thing a lot less worth the trouble!
defaulting parents

United States

#9 Apr 14, 2009
Get them used to using credit cards when they're young.

Get them in the habit of maxing out their credit cards.

Get them in the habit of being in debt.

Then let the taxpayer pay off the debt, while they continue to spend, spend, spend.

Earn money to go to school, stop the immediate gratification of a degree in 4 years.

Egocentric. It's their parent's fault. They should have taught them a work ethic and responsibility of paying the bills and not to place excessive charges on their card.

Remember cards in default....that payment is made by the rest of the public.
Attendance

Atlanta, GA

#10 Apr 14, 2009
For many of these parents the reality to BOAST that their kids are attending college away has come into a reality..no more Home Equity Lines or high credit card limits to fund the bragging rights...

As far as community college goes...I am sure if you look at the majority that are paying by credit cards it is the ones that realize after not going to college like everyone else, years later, that they will never get out of min wage or are out of work and finally realize they need a education instead of a weekend course of being a mortgage broker or a realtor...

My child stayed local...living at home, and will have no debt when he leaves college..he realized a long time ago that unless it is a top ivy league school with a full scholarship..a degree is a degree, it is what you do with it that counts....
Maisey

United States

#11 Apr 14, 2009
Please. Sallie Mae is just looking to get their hands in your pocket. I plan on going the route of paying for my tuition this fall semester at FAU on a credit card and will pay it off while studying. No big deal. No way am I giving anymore money to Sallie Mae, I refuse to take out another educational loan with them or any other financial institution. If you can pay for your education in installments with cash or do it with a credit card responsibly, I say go for it.
Max

United States

#12 Apr 14, 2009
Anyone who pays credit card interest rates to finance their education is simply not college material at the outset.
Bankruptcy

Homestead, FL

#13 Apr 14, 2009
At least w/ a credit card, students can declare bankruptcy and discharge the debt unlike w/ student loans. Credit cards may be a safer way to go because the debt won't hang on to students forever.
Carolyn

Eau Claire, WI

#14 Apr 14, 2009
And these are our "best and brightest"? Our education system and parents are failing us HUGELY if this is the best of the crop.
Arbitrator

West Palm Beach, FL

#15 Apr 14, 2009
Card issuers are on campus with the freebies such as a T-Shirt or hat offered to sign up. The card issuers also pay the school through a donation of sorts for the priviledge to set up shop on school grounds.
The Showtime Channel documentary "Maxed Out" describes in detail the problems associated with some college students who get hooked on credit cards as a form of addiction. What a shame.

Since the bankruptcy laws changed in 2005, it has become difficult to discharge the credit card debt without first becoming deceased. That is one of the main reasons that college students are the primary targets of these companies. Repayment of the debt may take a long time but students are typically young. The card companies can afford to wait.
former student

United States

#16 Apr 14, 2009
maybe not a bad idea...you can bankrupt on credit cards but not on student loans.
Bob

West Palm Beach, FL

#17 Apr 14, 2009
Why is a mortgage company doing a study on credit card use by students?
There is a lot of financial aid, scholarships, Bright Futures etc. out there for college students before they have to resort to credit cards to pay for tuition or books. There are also P/T work opportunities on and off campus.
CoCo Puff

Fort Lauderdale, FL

#19 Apr 14, 2009
defaulting parents wrote:
Get them used to using credit cards when they're young.
Get them in the habit of maxing out their credit cards.
Get them in the habit of being in debt.
Then let the taxpayer pay off the debt, while they continue to spend, spend, spend.
Earn money to go to school, stop the immediate gratification of a degree in 4 years.
Egocentric. It's their parent's fault. They should have taught them a work ethic and responsibility of paying the bills and not to place excessive charges on their card.
Remember cards in default....that payment is made by the rest of the public.
Your right, partent's should teach work ethic and responsibility of paying bills. I also encourage our middle & high schools to have business classes that teach managing checking, savings, retirement, investment acounts, and credit & debit classes. Face it, an accounting class and a math class don't teach good financial decisions.
natasha

Bangkok, Thailand

#20 Apr 16, 2009
money is just too easy available. This is the attitude that has lead to the credit crunch.

Germain

London, UK

#21 Mar 26, 2014
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