Nobody is immune to credit card debt. It gives fair treatment to everyone regardless of your station in life, students included. Because of this, college student credit card debt has come into existence and if students cannot be made aware of this early, they might carry the habit when they get regular cards later on.
Student debts could not be as huge as regular card debts can be because the credit limit is set at a lower level but warning signals are there.
Most college students are not yet very knowledgeable with the use of plastic money and managing it so there is the danger of them falling into debts. With this, credit/debit card suppliers saw to it that a lower credit limit is set because the students are still being initiated into the workings of the whole credit system.
College student card debt however can be avoided. Most probably, this is the student's first plastic money of his/her own and this is the best time to train the student to use it with discipline. This will teach him/her a valuable lesson as well as the consequences of unwise use of bank cards. Even during student days, he/she must be made aware that having a card is not all benefits. There are pitfalls that must be avoided.
With this, it must be instilled in the minds of the college students that having a card does not mean having free money. Whatever amount any student gets as payments for purchases or services acquired, these are just 'borrowed' from the credit/charge card companies and needs to be paid back when the bill arrives at the end of the month. This is something the students cannot run away from.
The student must also be made to understand that college student debt can be avoided by controlling spending habits because whatever purchases they make will get back to them in the form of a bill at the end of the month. These needs to be paid otherwise, the student will incur fees and interest rates for delayed payments.
Making a monthly budget and sticking strictly to it could help students to avoid overspending which could result in college student debt. This is also the best time for students to teach themselves not to buy unnecessary things just because they are on sale. Some students may learn too late that getting a second card will not offer any help at all. This is one factor why bills accumulate and they may build up before you will know it. One card is advisable for a student.
With proper planning and discipline, credit card debts can be avoided. Issuing plastic money to students is really a means of educating the students on the concept of credit/charge/debit cards and training them to use them properly to avoid future problems. It should serve to help students get easy access to cash loans in times of emergency or if the need arrives but it should not be an instrument to make the students sink in despair from acquiring college student debt.
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what is the best bank for a college student?
I'm in college and I need help choosing a new bank. I need something with free checking, a debit card, and savings with many locations. [i live in philadelphia] I'd like online banking as well; like an easy website with alot of options. I'm also considering if I need to take out student loans, CDs, and generally the best way for a young person with an hourly wage to invest. any suggestions? It seems like there are alot to choose from but I don't know the difference, especially with the rapidly deteriorating economy. I feel lost.
Answer
I would go for one of the larger banks that is known nationwide such as Bank of America or Wells Fargo. Most banks will offer online bill paying, direct deposit (very important for those wanting to save money and time), student loans and free checking. As a young person starting out I would avoid getting all kinds of credit cards since that often leads to wild spending, high interest and high debt. For my CD's I found the smaller banks and credit unions will have the best rates. Right now I'm collecting over $300 a month in interest just off of my CD's at a nearby credit union. What a great, fun way to save! Good luck and have fun with it.
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“Free market security” is working out great for everyone save the customers, who have nowhere to turn and whose only alternative is to cancel all their credit and debit cards, turn off their computers forever, and start paying their bills in cash again.
equate to or equal to or on a par with
In your example paragraph, it means Darwin's note-taking was meticulous and time-consuming, but the subject and its handling were not of as great importance as On the Origin of Species.