Credit Score Consultant

When your college student comes home for the first time this fall, they’ll likely bring an intense craving for a home-cooked meal, a dozen loads of laundry and (hopefully) a few decent grades. But what you hope won’t arrive on your doorstep this fall is your college student in credit card debt.

College students in credit card debt are no doubt a major problem nationally. According to a study by student lender Sallie Mae, more students than ever before have their own cards, and an alarming number carry a large balance. Study findings include:

• 84% of college students have credit cards

• 50% or more have at least four cards

• The average balance is $3,173

• 75% carry a balance

• 60% are surprised at how high their balances are

So just how do your students get entangled in this mess, and how do you avoid finding your college student in credit card debt?