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Article: Credit card debt increases, consolidation may not be the answer
- Article from:
- University Wire
- Article date:
- July 16, 2002
- Author:
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(Kaleidoscope) (U-WIRE) BIRMINGHAM, Ala. -- According to recent statistics
released by Nellie Mae, a national provider of student loans, at least
83 percent of college students now have at least one credit card.
That's a 24 percent jump since the study done in 1998.
Nellie Mae publishes their annual report on student credit card use
to underscore the importance of educating college students on future
credit debt.
"It is interesting to note that while 54 percent of freshman students
own a credit card, only 23 percent have a student loan, which is much
less expensive and often considered a more positive investment in
one's future," said Nina Prikazsky, vice ...