According to a just-released Sallie Mae study, college students are in as bad a shape — financially speaking — as other segments of the population. College students, in short, are struggling with credit card debt, getting into more of it, and leaning on plastic to cover costs more heavily than ever. Some numbers from the study:
- Almost 1/3 put school tuition on their credit card
- 92% put direct educational expenses like textbooks on their credit card
- 17% said they regularly paid off all credit card balances each month, implying a whopping 84% incur finance charges on the revolving debt
- 84% admit to needing more education on financial management
Tags: adjusting mortgages, consumer borrowing drops debt plan, consumer spending under control, credit card borrowing and debt, cutting the cable and debt, cutting the phone and cable TV bill, debt elimination, debt elimination in a marriage, Debt Management, debt management strategies for couples, debt plan, debt plan when married, debt reduction, debt reduction plan for a couple, debt reduction with new work, debt strategy, debt when married, debt with credit card overusage, digital services and debt, digital services rate reduction strategy, digital services with debt, discretionary cost strategy with debt, drop in credit card borrowing, frugality, getting back into the workforce to eliminate debt, marriage communication on debt, marriage communication with debt, marriage debt planning, marriage finances with debt, marriage spending with debt, mortgage adjustment, mortgage management, mortgage modification, mortgage reconfiguration, mortgage renegotiation, mortgage resolution, one income household and debt, saving money for debt elimination, second income family and debt, the debt guide to digital services, two income household and debt
