Avoiding Huge Credit Card Debt for College Students College students represent a new push for credit card companies. An amazing 56 percent of students carried a credit card in the most recent study of undergraduate card use,27 and the number undoubtedly continues to skyrocket. Credit cards are a contributing factor when students graduate with an average of $20,000 debt. Because they can’t buy cars, rent homes, or purchase insurance, graduates with big credit debt see a bleak future for themselves.
A local newspaper plans to run a self-help story about college credit cards. The editor asks you, a young part-time reporter, to prepare a memo with information that could be turned into an article. The article would be targeted to parents of students who are about to leave for college. What can parents do to help students avoid sinking deeply into credit card debt?

Your Task.
Using ABI/INFORM, Factiva, or LexisNexis and the Web, locate basic information about student credit card options. In a memo discuss shared credit cards and other options. Your goal is to be informative, not to reach conclusions or make recommendations. Use one or more of the techniques discussed in this chapter to track your sources. Address your memo to Barbara Hagler, editor.