As anyone within shouting distance knows, I relish every opportunity to lecture. SallieMae's recent report on undergraduate credit debt will come in handy the next time someone looks like they need to be slapped in the face with knowledge. The report found that:
- Undergraduates on average have 4.6 credit cards.
- 30% of college students use a credit card to pay tuition.
- The average credit card balance is $3,173, the highest in the study's history.
For shame. At least your hearts are in the right place. The report also found that 84% of undergraduates said they would like more help learning about financial mangement. That's where brass comes in. Check out our articles on paying for college and becoming debt free, and keep reading the brass|BLOG for more tips on how to manage your money.
--Cody
Photo taken from this photostream and used with permission of a Creative Commons license.
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