Studies continue to show that college students are graduating in a substantial amount of debt. Most people are aware that college students are graduating with a great deal of student loan debt. But, many do not realize just how bad the situation is. According to Nellie Mae, which is a leading company in the educational loans field, most college students graduating from a four-year college in 2002 were carrying $20,000 in student loan debt with them.
Perhaps even more concerning is the second part of the Nellie Mae study: the company found that the majority of college students double their credit card debt during the time period that takes place after they get to campus until they graduate. It is quite clear that college students are relying on their credit cards to get them by as they pursue their studies.
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