If students acquire so much debt prior to joining the workforce, this could get worse as time goes on.
Dallas, TX (PRWEB) April 17, 2013
Creditcardconsolidationloan.org, one of the leading sites that help with credit card debt, is willing to step up and provide assistance to college students who are currently suffering from credit card debt.
This decision stemmed from an article that was published in CBS Boston in April 11, 2013. The article entitled, The Credit Talk, discussed this particular topic. Statistics from the StatisticBrain.com website show that the average credit card debt of undergraduate college students amounts to more than $3,100.
By analyzing the information from both the CBS Boston article and Statistic Brain, it is eveident that despite the requirement that parents of 21yo and below individuals should co-sign a credit card application, 76% of college students still owns a card. 20% of these college students currently admit that they are going through debt troubles. If you combine that with their student loans, it shows that when these students graduate, they will end up owing an estimate of $20,000 and more.
A study conducted by the Nationwide Bank also showed that college student credit card spending range between $3,000 to $7,000 and most of that is spent on discretionary expenses. These include gadgets, clothing, entertainment and even cosmetics. When they finally graduate, the average card debt will be around $4,000 already.
This poses a serious problem as to how the future leaders of the country will treat their finances. The baby boomer generation is currently having problems with their retirement. It seems that their grandchildren are following suit when it came to financial difficulties.
Creditcardconsolidationloan.org recognizes that this problem should be addressed because credit card debt can lead to a lot of crisis in the future. If students acquire so much debt prior to joining the workforce, this could get worse as time goes on. When left without any solution, the high interest rate and finance charges can get it to grow into a significant amount.
The site primarily offers consolidation loans as a debt solution. The whole program intends to give clients a lower and single payment scheme through the Consolidation Plan that will be created for them. And while it is not a guarantee, a lower interest rate will also be one of the goals so it could reduce monthly contributions significantly. With this solution, college students and graduates can start anew with their finances.
Proper management of one’s finances is also an important part of the program. The site believes that education leads to a better management of money and steers clients away from any financial crisis. They specialize in helping those who had never received any financial education to help with money matters. This include college students.
To know more about what Creditcardconsolidationloan.org can offer, navigate their website.