College Student Today, Bankruptcy Candidate Tomorrow
 
There are too many of our college students that do not know how to handle their debts. New laws make it impossible for credit card companies to target college students anymore, but there are way too many that have already fallen prey to these scams. They get a credit card and they rack it up because they don’t understand how it works. They don’t understand that there are rules and regulations that they need to follow, and a basic understanding of debt that they should have that they don’t.
 
Our college students get these credit cards as well as the numerous student loans, and then they leave school. They are now trying to figure out how they can get a job that will enable them to pay back all of the debt that they have amassed while in school, and it all comes from not understanding what they have done. One of the first things all college students should learn is how to handle debt. There should be a class on interest rates, student loans, debt management, etc. so that they aren’t leaving school up to their eyeballs in debt.
 
Way too many of these students then find themselves unable to make ends meet and they end up declaring bankruptcy and really hurting their credit. Not only that, but they don’t understand that not only have their hurt their credit but they still have their student loans to deal with. None of these things make for a very stable financial future.
 

 

 

Back to News Updates