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Issue Date:  November 2, 2007

Students and credit cards

-- AP Photo/Mike Derer

Pamphlets advertising credit cards to college students are seen outside the Rutgers University bookstore in Newark, N.J., in April 2006. A recent survey conducted by the student loan company Nellie Mae showed that 92 percent of graduate students carry at least one credit card, with an average outstanding balance of $8,612. Sixty-seven percent said they took out their first credit card as an undergraduate. According to the study, which was published in August, 93 percent of respondents agreed that they would have liked more education on financial management before they started school and would like such education now.

National Catholic Reporter, November 2, 2007

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