Student Credit Card Debt-big Credit Card Debt

Nearly three-quarters of college students have student credit card debt with an average balance of $3100. The number of young people under age 25 filing bankruptcy is 150% of what it was just a decade ago. The credit card companies target students to sign up for credit cards. Students without realizing the consequences, get into big credit card debt by the time they graduate. One of the students volunteered to share his hard lesson that he learned from big credit card debt:

“Dressed to the nines in Prada, Gucci, and Dior, at just 21-years old, Stephany Luyando seems to have it all. With a petite build, long locks, porcelain skin and an endless wardrobe of designer must-haves, this fashionista has more than what meets the eye, and it comes in the form of unending debt.

Luyando, a communication senior, racked up more that $3000 worth of credit card debt in three and a half years. With the average undergraduate student owing about $12,000 upon graduation, according to surveys conducted by credit counselors of America, and with University of Arizona students averaging about $17,500 in debt, Luyando seems to be low the norm. But, while the majority of student debt comes from student loans and living expenses, Luyando’s manifested in designer labels and monthly salon visits.”

Do you want to be another Stephany Luyando? If not, act upon getting rid of student credit card debt by contacting a debt management program and hear what the program has to offer.