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- Article from:
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The CPA Journal
- Article date:
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September 1, 2008
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Copyright informationCopyright New York State Society of Certified Public Accountants Sep 2008. Provided by ProQuest LLC. (Hide copyright information)
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CPAs Can Educate College Students on Responsible Credit Card Use
The growing credit crisis in the United States may be centered on homeowners and lenders, but in tough financial times, no group can afford to be financially illiterate. Although most college students do not hold a mortgage, many possess significant debt in the form of student loans and credit cards. Nellie Mae Corporation, a major provider of student loans, has conducted several studies on student credit card debt. A 2005 study found that one-third of undergraduate students had a credit card balance in excess of $2,000 ("Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends," ...