Study Released about Student Credit Card Habits
Published July 18th, 2006 in UncategorizedStudy tracks student use of credit cards - CNN.com
A new study released by the American Council on Education gives some new insight on how students used credit cards. The study analyzed data from 2003-2004.
More than 40% of cardholders carry a balance. The study found that students frequently used their credit card to pay tuition. Students that used a credit card to pay tuition were more likely to carry a balance from month to month than those that don’t.
What is surprising is how many college freshman (37%) are already carrying a balance. The study found that 48% of seniors are carrying a balance.