Get the Facts

EDFUND says “Credit Cards – EASY DOES IT!”

Managing your financial wellness at any time in your life is a significant responsibility.  For college students who are just starting down the path to financial wellness, it can be even more difficult to start out on the right foot.  Consider the following facts:

  • 80% of college students have at least one credit card by the end of their freshman year.
  • 52% of recent graduates report owing $10,000 to $40,000 in student loan debt.
  • In 2003 about 100,000 people under the age of 25 declared bankruptcy.
  • $184.00 is the average monthly payment of a four year grad carrying a student loan balance of $23, 485.
  • The average senior graduates with approx $3000.00 in credit card debt.
  • Bachelor degree students earn 80% more than high school graduates.

Source: NASFFA and Indiana Dept Of Financial Institutions

College Students and Credit Cards

  • Average number of cards per college student is 4.09
  • 43% have four or more cards
  • 43% obtained first card as a freshman
  • 72% of sophomores had credit cards
  • 16% owe between $3,000 and $7,000
  • 7% owe more than $7,000

Source: 2005 Nellie Mae Study of Undergraduate Students and Credit Cards

There is no better time than now to start managing your money
and practicing sound fiscal responsibility.

http://www.plymouth.edu/office/financial-aid/smart/files/2011/05/Credit-Card-08.pdf

Featured in Plymouth Magazine

Example Image

Arts: Digital Repository Puts PSU’s History and Culture at Your Fingertips

Where can you get a close look at a photo of Babe Ruth standing in front of the Draper and Maynard Building, peruse a 1905 copy of Plymouth Normal School’s literary magazine The Prospect, and examine an aerial view of Plymouth State’s campus in 1960? Thanks to PSU’s digital repository, these historical treasures—along with 15,000 […]

Example Image

PEOPLE FIRST: The Presidency of Sara Jayne Steen

In her introductory remarks for her first Faculty Day on August 23, 2006, President Steen said, “PSU’s future is something we’ll shape together.” What follows are just some of the many initiatives launched and nurtured during her presidency, as told by the people who worked with her to shape them.

Example Image

Samuel Read Hall’s Second Act

The beloved residence hall is enjoying a new life as the campus hub for STEM programming. It’s a transformation that the building’s namesake would have certainly approved …