Argumentative

College students across the nation are carrying load more heavier than their books, a crushing load of credit card debt that has coerced an increasing number of young adults into bankruptcy. Most student cards come with starting credit lines nibble from $500 to $1,000. In a latest inspection, interest rates on student credit cards range from 10 percent to 19.8 percent. Many college students come to school as financial illiterates and they're being offered a lot of credit, and they don't know what to do with it.

The trick is to comprehend how plastic cards works so you can use it to your benefit and not get stung by excessive fees and interest rates. While studies say unemployed and underemployed students shoulder an average $2,700 in debt, credit card companies keep luring them with offers. And students keep snapping them up. It's not surprising that college-age students were filing bankruptcy at record rates through last year, a tenfold increase in just five years even while the overall rates were going down.

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At the same time debt forces some students to delay their education, multiplying their costs. What is surprising to many is that universities are joining in the game, gaining when their alumni associations take a cut of school-logo credit cards marketed to students. It's clear the universities are taking the same course they have with every other social ill, and that's to anticipate for the litigation and then change. Too many parents don't talk to their children on the issue of money. The best thing that parents can do is to talk to your children about intelligently handling debt before they head off to campus. The children should agree to the rules and beware of the pitfalls of improper use of credit cards.

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