A new study from college lender Sallie Mae shows that credit card debt among college students is up. USA Today reports that study shows that the average undergraduate carried more than $3,000 in credit card debt last year. That's the highest level since Sallie Mae began collecting this data in 1998.
RENEE MONTAGNE, host:
NPR's business news starts with college kids and credit cards.
(Soundbite of music)
MONTAGNE: A new study from college lender Sallie Mae shows that college undergraduates used their credit cards more than ever before last year. An increasing number of students used plastic to pay for textbooks, school supplies and tuition. Balances are also up. The average undergraduate had nearly $3,200 in credit card debt. Seniors graduated with an average balance of more than $4,000, and Sallie Mae officials say balances could grow even more this year because of the worsening economy.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.