Study: College Credit Card Debt Rises
RENEE MONTAGNE, host:
NPR's business news starts with college kids and credit cards.
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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.
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