Student Credit Card News

Student Credit Card News

With the rising cost of college tuition and student debt in the United States, many have questioned whether or not a college degree is a worthwhile investment. Today, college graduates struggle to find work and, as a result, accept positions that they are underpaid and overqualified for. However, new data analyzing Labor Department Statistics done by the Economic Policy Institute in Washington affirms the undeniable benefits of a four year college degree. 
Student loan debt is on the rise, according to a new report released Tuesday by the New America Foundation. Student loan debt is now a little more than $1 trillion, outpacing all other loans except mortgages. This number is much higher than years past, and much of the debt is from students who went to university for a graduate degree. New research has indicated that students who went to university for a graduate degree borrowed $57,600 in 2012, a 43% increase from 2004. 

A Sallie Mae study in April 2013 shows that the number of students with credit cards has fallen from 42 to 35 percent. The younger college students shied away even more with 21 percent of freshmen owning cards while 60 percent of seniors had them.

Student loans, rent, everyday living - it's an awfully lot to consider for newly-anointed graduates. (Time to celebrate, right?) So what are some actions graduates can take to get their personal finances in order both in the long-term and short. As always, we're here to help...

1.) Apply for a new card

A study conducted last year at the University of Alabama found some correlation between a lack of knowledge of how credit cards work and increased risky behavior on such an account, and many experts have since noted that this may be a growing concern, according to a report from the Wall Street Journal.

Many parents are now more closely examining the various ways they can give their kids some financial flexibility when they go off to college, which may lead them to examine a number of credit and debit card options, according to a report from the Associated Press. However, many things have changed in the last few years that may affect the decisions they end up making when it comes to their kids' financial futures.