College Students Sinking In Credit Card Debt
Sanyika Calloway Boyce’s appearance on “In the Loop with iVillage”
Tags: Sinking, sanyika calloway boyce, Credit, Debt., Students, college, credit card debt, calloway, Card
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ok… or… you could just save your money and stop being a dweeb spending money you don’t have lol.
Interest is the invention of Satan - Thomas Edison
What I say is true. If you pay your bills on time, pay your rent on time, have NO consumer debt, and show a regular serious saving history you can save the down payment and get a mortgage for a house you CAN afford and not one you can’t afford, just to impress your friends. It can be done. It just takes a little dicipline and desire! If you do these things you will be able to find a bank that will asses you on your merits and not rely on a stupid FICO score.
not entirely true. are you going to save up money and buy a house with cash? No your going to take out a 30 year mortgage. Strong credit will give you low interest rates.
You do NOT need a credit card. A debit card will allow you to do anything a credit card will EXCEPT get you into debt. If you cant pay cash you can’t afford it! And that includes cars. if you use your head you can own good quality late model used cars for life without debt.
Why not teach our kids to save and invest instead of spend and get debt?
I’m a freshman in college and have one credit card with only a $500 limit….THAT’S IT. I will not get any more credit cards. So far the only thing I’ve bought on my card is bus tickets to go home and Microsoft Office word, and ALL of it has been paid back. Its about self control people. You DON’T need that new Prada Bag!!!!!
im teachin my kids to charge as much as posible and never pay anything back ha haa
what about going without and saving?
Yep and the funny thing is according to the AICPA education cannot be valued or put on a balance sheet so it is not an asset. It is merely an expense not an asset!
Did she say on avg. 3-7 thousand? I’m sure that’s inaccurate.
Oh man, do you have some major disappointment going to center punch your ass
i warn my daughter that its college years where they start to hook you into a lifetime of debt…. i learned that the hard way…
The problem is that debt is now profit able and all economies (even if one day they collapse) run in cycles.
A hunge majority of students aren’t supposed to be in debt. You can just live near campus. No need for a laptop/ iPod/ car/ TV/ high phone bills. etc etc…. I’ve seen a lot of liberal arts majors with the latest Mac laptops. Makes no sense.
I am 55 years old…..it used to be very hard to get a credit card. When I was 25 years old I tried to get credit cards for about 2 years with no luck ….and I had been working full time for 5 years at the same company. Finally I lucked out when Amoco Oil Co. sent me an invitation for their gas card. After I used it for a year THEN it was easy to get a Visa or mastercard
A community is supposed to invest in their future. Education is an investment in the future of society.
Why in the hell are kids having to pay for their education in the first place?
Answer: economic stimulation.
Going to college is not worth creating debt with an unmerciful government. Sometimes, health issues and certain upcoming mental and physical disabilities will prevent a person from making enough money, if any, to barely survive on, but the government will still take their money! You can’t take bankruptcy! You’re trapped permenantly. There’s no mercy! No forgiveness of debt. Financial slavery! Don’t be fooled. A job’s not promised at the end of your education. Education doesn’t equal prosperity.
Yes esp in a country that allows schools to be run like a business. They are not required to teach you anything yet can pocket 20′000 per student! Insane.
College is an investment. All investments involve RISK. The risk is that you will ruin your life with student loan and credit card debt and get an education that’s worth next to nothing.
It’s personal responsibility, bottomline. The system was created to enslave people with debt. I go to school fulltime and work fulltime and its hell, but I owe nothing and have no debt becuase I pay right away. The credit card companies hate me ;D
Try this program that costs $10 per month to participate as seen on YouTube “STUDENT DEBT KILLER”