College students are going into debt

According to the annual Credit Card Survey by, a nonprofit consumer education organization, college-age adults have increased their amount of credit card debt by 42 percent over the past year.
Those aged 18 through 24 are now carrying an average balance of $1,208 on their credit cards, up from $849 in 2002. These results come as Americans on the whole are reducing debt carried on their cards.
According to the survey, the average American now has $2,294 in cr...

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