Daily Dupaco

Monday, April 13, 2009

Study: College students load up on record credit card debt

Despite the credit freeze, college students last year used credit cards more than ever before, including charging tuition and other direct education expenses, according to a new study.

Nearly one-third of college students put tuition on their credit card, an increase from 24% in 2004, when the study was last conducted.

In total, 92% of undergraduate credit cardholders charged textbooks, school supplies, or other direct education expenses, up from 85% in the previous study.

Students who used credit cards to pay for direct education expenses estimated charging $2,200, more than double 2004's average of $942.

Those numbers need not strike fear in the hearts and minds of Dupaco members bound for college. Your credit union offers a free tell-all seminar on the topic of financial aid for college-bound students. Here's the scoop:

Thursday, April 23, 6:30 p.m.
Dupaco's Asbury Location at 5865 Saratoga Road, Asbury
RSVP to (563) 557-7600, ext. 202 or online.

To access the complete study, click here.
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