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College Students And The Roots Of All Evil

It's no secret, college students have money problems. It might sound stereotypical, but money issues have troubled college student for years. The problem has been growing in the past decades. With credit cards readily available for students and loans becoming easier to acquire, students are running into a spiral of bad credit and long lasting debt. College loans are easy to acquire either from the government or from a private lender. Some students do not realize the debt they may acquire from college loans alone. Adding a credit card with a few thousands to your debt can easily contribute to the problem. Students may accumulate thousands in debt, not realizing that after college, they will have to pay it back.
Credit cards are just plain horrible for students and for most post graduates. Student will charge everything from designer jeans to pizzas. Even after graduation, the young adults still abuse credit card usage. The problem with students and credit cards is that most students do not pay off the balance every month. When a student buys a pizza on their credit card and do not pay off the balance that month, they will be paying for that pizza over and over again. (Chu) A twenty dollar pizza could easily turn into a fifty dollar pizza over a year's time. Credit card companies then add late fees and they usually have high interest rates, causing most students to work years after college to pay off their debt. It's bad enough that students are in debt because of student loans, but now adding the credit card bills, thousands of dollars must be paid off.
Loans are becoming a bigger problem each day. Since students will need to spend thousands of dollars on college, they will need to get the money somewhere. The majority of students do not have "rich parents" so they will need to find funding sources elsewhere. One of the most common ways to get money is to take out a loan. Most of the student loans that are not granted through the government are acquired...