RegardingID Archive | Credit-card ownership, debt down among college students, study says

Tuesday, July 15, 2008

Students are using credit cards less and have a smaller debt–an average of $452-when they graduate, according to a recent study reported in The Press Enterprise, a southern California newspaper.

Citing the Student Monitor, which publishes an annual study of college students, those “owing thousands on their credit cards are becoming the exception.” The study found that the percentage of students with credit cards declined from 56% in 1997 to 35% in 2008. At the same time, the percent of students with debit cards, after rising from 30% to about 70% in 2006, dropped to about 60% this year.

One other point from the study: students usually have their credit cards before they arrive on campus.

Students from the Art Institute of California, San Bernardino, have joined other students from other area colleges in using their ID cards to ride the local Omnitrans buses. With a simple swipe of their card, students can ride the buses at anytime on any route, not just to and from campus.

Security breach at New York college puts credit cards at risk

If you want to use a credit or debit card at College of Brockport dining halls, forget it. Until the end of the school term, it’s mostly cash only due to a security breach which affected hundreds of credit and debit cards from students, staff and faculty.

U.S. Bank rolls out campus ID, prepaid MasterCard at Michigan community college

U.S. Bank and Oakland Community College, Bloomfield Hills, Mich., have launched a combined campus ID and prepaid MasterCard program for the school’s 78,000 students and 788 staff members.

Arkansas State teams with Discover for new campus ID

Arkansas State University, Jonesboro, has partnered with the Discover Money Network to enable students to open an account with the university’s Student Account Services. It would be separate from their school account and can be used anywhere Discover cards are accepted.

Credit cards discouraged at one Iowa university

If you want to use a credit card to pay your tuition at Drake University, Des Moines, Iowa, be prepared to pay more. In addition to the 4.11% tuition hike, which recently went into effect, students will now have to pay an extra 2.75% surcharge if they use a credit card.

Homeland Security nabs Seattle students buying fake IDs

Obtaining fake IDs, such as driver licenses, is becoming harder for college students. Not only must they deal with local law enforcement, the Department of Homeland Security can also get involved.

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Credit-card ownership, debt down among college students, study says