College Students and Personal Finance Education Book Summary
Summary ratings: 3 stars
(xx voters)
Visits:
46
words:
300
Published: November 12, 2006
This paper looks at how commerce on the Internet is conducted almost entirely with credit cards or with Internet accounts established with credit cards and how, for many, particularly young people for whom cash has never been a necessity, it is easy to give in to the urge for instant gratification, even when there are no funds available to support this gratification. It shows how, in particular, college students may fall victim to this trap, since they may not see a credit card purchase as spending with i?1/2real money, they have little or no experience with credit cards or loans, and they are new to living independently from parents who have advised them not to buy things in the past. It examines the how, increasingly, student debt upon graduation is a crippling burden upon the student. It explores how the potential solution is to educate college students how to use their credit cards wisely and how to structure student loans and career plans with an eye toward the future, both of which can be accomplished by attending personal finance classes and by beginning with smaller credit card lines.