by Alycia Brandt
Exchange Staff

     College students who face the burden of having to pay back thousands of dollars worth of school loans are now facing the burden of having to pay back credit card loans as well.

     A recent study out of Concord, New Hampshire reports that "many college students are over their heads in debt." For many students, credit cards pose a dangerous temptation. Students who are short on money and are away from home tend to use credit cards to buy things even when they do not have money.

     "The New Hampshire Higher Education Assistance Foundation checked records of nearly 31,000 students and former students who borrowed from the organization and found many are relying heavily on credit cards and falling behind in paying the bills," David Tirrell-Wysocki of the Associated Press wrote in a recent news article.

     Credit cards are dangerous and many students do not realize the consequences if a credit card bill goes unpaid.

     "The average amount of credit card debt for a college student living on campus or on their own ranges from about $1,500 to $5,000. However, there are some cases where a student could accrue even higher credit card debt than that," said Mary Ellen Duplessis, a customer service representative at St. Mary's Credit Union.

     "A student must understand the responsibility that comes along with having a credit card. If you don't have the money in the first place you should not spend it. A credit card bill that goes unpaid will only amount to more debt and students that have to worry about paying off college loans do not want to have that additional burden," Duplessis said.

     Students across the nation need to have a complete understanding on what signing up for a credit card has in store for them. Students at Franklin Pierce University and other local New Hampshire colleges also need to realize that living in this rural area does not mean thousands of dollars worth of credit card debt cannot build up. 

     Franklin Pierce freshman Erin Clark said, "Being a freshman in college and having a credit card is not easy. I have to limit myself and only use it for emergencies. College is expensive and I know that if I let myself spend too much money on my credit card I will regret it in the future."

     Every year the use of credit cards increase. This increase is due to college students feeling like they not only want but need a credit card to afford things.

      "Although I am an employee of a Massachusetts banking company it is my understanding that New Hampshire college students can get in as much debt as a Massachusetts student or any other student," said Duplessis. "It does not matter whether you are studying in New York City or Rindge, NH.  Credit card debt can occur and will occur if you allow it. My advice is to just be aware of your spending and while in college only purchase the things that you absolutely need."

     Credit card debt takes years to pay off. "According to the study, called "Clothed, Fed and Over Their Heads?" seniors with current loans are carrying average credit card debt of more than $3,300, a bill that would take 11 years to repay with minimum payments," Tirrell-Wysocki wrote.

     To fully understand the responsibilities of credit card debt visit any local bank.