Southwestern College Collegian

Issue date: 4/16/08 Section: Collegian Front Page

Students are being bombarded by the constant credit card offers that fill their mailboxes. Companies try to trick them with catchy phrases like "Apply now for 0% A.P.R." and "College Student Special." But not many students are jumping on the collegiate card cart. A survey has been done by the U.S. Public Interest Research Group. They found that out of 1,500 students who were surveyed, 80 percent supported stricter regulations on banks and credit card companies. And students on campus seem to feel the same way. Andrea Ferguson, accounting junior, said, "They kind of make me mad. I don't want credit card debt. I throw them away." According to the "Truth About Credit" campaign, Americans have about $800 billon in revolving debt. And the average American household has about $10,000 in credit card debt. But the statistics are coming after the college students as well. The average college student graduates with at least $4,000 in debt. Credit card companies have realized the value of college students as potential customers, and as a result, have begun to market their product toward them. Eric Webb, physics senior, said, "I don't get very many. The ones I do get are misleading. They tell about an amazing rate but don't tell about fees or card limits. They just advertise the beginning rate." Although the college demographic represents a great possible profit, those who appreciate the entourage of plastic money opportunities are few and far between. Laura Welter, English sophomore, said, "I don't really feel anything towards them. I just throw them away." Drew Logsdon is a senior majoring in communication. You may e-mail him at drew.logsdon@sckans.edu. Peggy Williams is a sophomore majoring in journalism. You may e-mail her at peggy.williams@sckans.edu.

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