I keep seeing those commercials for debt consolidation, and it made me realize why there are so many commercials for it. The credit card companies target college students. Most college students are poor, so any extra money will help them out, so a credit card seems like just the thing to help them have fun, without having to work extra hours. For those of you who think I don’t know what I am talking about, how many times are credit card representatives on college campuses offering free gifts to sign up for credit cards? I will admit, I got mine from a Six Flags, and not from a college campus, but they were there. I just already had a $2500 credit card bill when I went to college, that’s why I was weary of them.
Banks are way too easy at giving away money to college students. I am not just talking about the loans they give you to help you pay for college, I am talking about they will give you a credit card on a student account so you also use all the money in your checking account, and then owe your own bank money. About the only type of loan a college student can’t get is secured personal loans and that is mainly because they don’t have the collateral to put up to get the loan.
