Word: cards
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Dates: during 1990-1999
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Over the 12 years she has worked in the financial aid office at Yale, for example, Glenn-Long says the majority of students she has seen with credit card debt have it as a result of what she calls "unnecessary" spending or borrowing. Although the scope of the problem is small, she says potential effects can be devastating...
...interesting point made at the meeting, Glenn-Long says, was that community college students, who are usually older than traditional four-year college students, often take on credit card debt to meet the difference between the whole cost of tuition and the amount of financial aid they receive...
...happen to have that gap, a credit card is an easy way to meet it," she says...
...Before they know it, they're behind the eight ball in terms of credit card debt," he says. "That's what scary to me as a freshman proctor...
...people with the worst credit card problems are not captured--they've [already] dropped out," Manning says...