Colleges need to get the credit card companies out of the campuses, as well as stopping the colleges from taking money from the companies because they can solicit their product on the college campuses just for a fee. Colleges should be held accountable for some of the debt issues because they are the ones allowing this behavior. Colleges need to ban or have it made illegal to solicit on campuses to students. Credit Card companies should not be on college campuses marketing to the students, taking advantage of the situation. Students are easy targets for marketers to solicit their product to, which can harm the student’s future. College should be the student’s priority and that is what the colleges should want for their students. Young college students are money makers for the credit card companies, and these companies know that there may be help for majority of the students to pay off their debt. They offer special promotions just in hopes they can sign up a student. Students have been the targets on the campuses and we need to protect them from being a victim of this vicious cycle of debt and protect them from what may be a harsh future.
Every year there are thousands of students that are being handed several credit card options. This is not a good thing for a student that is struggling, but this is the type of student these companies want because they have a long credit life. This allows credit card companies make a lot of money in interest alone. What happens is a student lives off a fixed income and a small portion of that has to go on a payment. So what do college students do they make the payment at the minimum amount which shows they will be paying more on interest than principle; which causes the student’s to be in debt longer. The average student leaves college with at least $5,000 in debt from a credit card; this is not including the debt they already have in loans for school.
Credit Card companies have been marketing on college campuses for many...