Because college students do not comprehend the responsibilities of handling credit cards, they are leaving college with large amounts of indebtedness, in addition to their student loans. Laraye Brown of the Clarion Chronicle, states a “Sallie Mae survey of students applying for private or alternative loans showed eighty - four percent of students have credit cards” and “twenty-one percent have balances of $3000-7000.”
Calculating Percentages
Unfortunately, credit cards are not issued with instructions on their wise use, because the banks are in the business of making money. Therefore, students must be proactive in learning how to manage debt. Students should avoid compulsive spending with credit cards in order to stay out of debt.
- Collateral Debt Obligations
- Debt Income Ratios
Are you in over your head? Calculate your debt-to-income ratio. The amount you owe is relevant only when measured against your income. The more you make, the more ...
- Bad Debt Accounting Revision Notes
- Consumer Debt Management Education
- America Debt In Poverty War
