College Students and Credit

More than half of college students' sign up for credit cards and most of those carry two or three while they are at school, according to the Insurance Information Institute. Sabrina Marshall of the University of Maryland says her institution hopes that students will leave school with a college degree not years of debt from loans and credit cards. Linda Goladner of the National Consumers League says students should understand that their personal credit history begins with that first credit card. It's extremely important to build and maintain a solid credit history, she says, as employers, landlords, and banks consider credit an accurate predictor of whether or not an applicant will pay their bills on time. The average college student leaves school $20,000 in debt says James Godfrey of the Consumer Credit Counseling Service. He says in addition to learning how to be a doctor or a lawyer, students need to learn Person Finance 101 as well.

For more information about insurance, go to the I.I.I. Web site at http://www.iii.org

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• college
• students
• credit
• scoring
• consumers

[MrConservative608]

This entire video is completely ignorant! #1. You can go to college without taking out student loans. Live @ home, go to a tech school that will teach you job skills instead of the hollow Women's Studies degrees for which there are no jobs & work full-time in the summer to pay for college tuition and books. #2. Credit cards are a sign of financial IGNORANCE like that car payment you have. You can't overdraft cash. Make a monthly budget and live off cash! #3. College is mostly a waste of time!

[pantyflash]

Like, they must enjoy going ever deeper into debt; otherwise why would they keep doing it? Hopefully, they will enjoy the aftermath at least as much. To all of them, "Way to go, babes!"

[Ghosthead32]

Whenever I get a credit card in mail; my parents make me shred it.

[inkey2]

when I was in college in the early 1970s it was absolutely "impossible" to get a credit card "in your own name". Credit was very tight. You had to have a full time job at the same company for like 2 years before you could even get a Gasoline card