Avoiding Credit Card Debt For College Students
August 13, 2019
Credit Card Debt and College Students, Managing Your Debt
It’s August, and if you have a student heading off to college this fall you’re probably busy packing and preparing for that bittersweet final hug before you say “see you later” to your young adult. It’s a hard time for parents, but an invigorating time for students. The freedom that comes along with college life is part of their growing up and maturing.
Sadly, credit card companies are targeting your child’s newly found independence by offering the ability to spend money with the swipe of a card. Their method for targeting is pretty simple; they offer something free to entice your child to fill out a credit card application. The law states that the credit card companies cannot give away tangible items on campus, but they can offer coupons for free items located off campus. Actual gifts can be given away at locations that are off campus.
As a parent, it’s important to play offense with the credit card companies before your student heads off to college. Take time to explain to your young adult the pitfalls of carrying substantial credit card debt. Show them how interest charges can become a burden. Additionally, take time to search for a credit card for your student before ever stepping onto the college campus. Shop around and compare to find the best deal for your young adult.
Gwinnett Debt Relief
If you or your young adult is having difficulty in managing high-interest debt, contact George R. Belche, Attorney at Law. We are happy to offer a free initial consultation to discuss your situation to help you move beyond the fear that can immobilize you.
George R. Belche, Attorney at Law
Lawrenceville, GA 30046