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

A New Day, A New Way of Giving

Thanks to life in the digital age, when information is as close as a swipe and a tap away, old-school philanthropy has been turned on its head. Donors want—and can find—more information about the causes and organizations they support. They want to feel confident that their gift is going to make a difference; and with […]

Example Image

Ut Prosim: A Cultural Exchange in Jamaica

On Sunday, January 8, six Plymouth State students and their instructor, Jessica Dutille ’03, ’04G, boarded a plane bound for Jamaica, leaving the remnants of a snowstorm behind them in favor of a week of sun and 80-degree weather. But this was no vacation. This was a service-learning trip in which Dutille, an instructor in […]

Example Image

Coach for a Day

Dean of the First-Year Experience Mark Fischler is a professor, mentor, and friend to countless students. But this past September, he was also a coach for the Panther football team.