Student Population and Credit Cards
Many of us have gone through the educational process and found out first hand exactly how hard it is to pay for absolutely everything without having to sell an organ or stop eating for a period of time. Its difficult, especially since not everyone can get everything covered purely by AID, or you may have been late in the student aid application process, or even just decided you didn’t want to get in debt as far as others you know may have. Whichever choice you may have made, you will definitely have been left looking for other supplemental income options.
Enter, the standard, prevalent credit card that almost every American has these days. Being the highest per-capita population to card possession country in the world, you can just see the effects of credit card debt on all levels of the population strata. Students are no different, being one of the key populations credit companies seek out to give high interest rates and lower credit lines to. Its all part of the profiling, or redlining the companies have been known to do. They gather information on populations in financial need, who by default are most likely to sign up for a higher interest based credit repayment program. They see it as an immediate solution to their problem of not being able to completely pay for their education, and are thrilled to have a solution. But, what they don’t realize is that everyone comes up short when they’re in dire need such as that. They then have become part of the preyed upon desperate population.
Debt is accruing at such an alarming rate, many are wondering how it could get to such a point. Many find out that most student populations, especially those that are just out of High School and entering for the first time lack the knowledge to properly decide things on such a financial level, or to be able to capitalize on reward cards, or to spend small and pay off completely. They just see the immediate before them. So, while some legislation may help the rising debt problem, the greatest help would be self education, and intelligence. Read, educate yourselves; You are in college after all, yes?
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