College credit card debt soars with tuition and fees


The results of a new Sallie Mae study are unsurprising: As parental ability to help with college cost decreases and college costs increase, the amount of credit card debt being carried by college students has absolutely exploded. In 2004, the average college student carried $2,169 in card debt. In 2008, that number rose to $3,173 -- an increase of more than 46% in four years.

That number includes students who didn't have credit cards: Among students who did, debt at graduation was up 44% since 2004 to $4,138.

Originally published