There's no surprise that credit card companies target 18-22 year olds on college campuses, and it's no surprise that oftentimes, we buy into their schemes. A startling article from ABC News reports that 76% of undergraduates own at least one credit card, and 43% own four or more (of an average balance of over $2,000). You would think that by now, we would've learned from our parents' past mistakes.

However, students are still falling for credit card scams all around the country. At Ohio State University (OSU), students received fliers offering free lunch with just a show of their student ID card. Yet when they arrived at the restaurant, a free lunch entailed signing up for a credit card. Because of such ploys, OSU has sued the company for deceptive marketing and violation of the state's consumer protection law. Along with OSU, the University of Illinois (Chicago) and Georgetown University have banned credit card companies from soliciting on campus.

Cases against credit card companies have prompted lawmakers in Washington to discuss legislation limiting the presence of plastic within the college environment. The outcome may propose a bill limiting the credit card line to $500, or 20% of the student's income. For people younger than 18, it could mean taking a credit counseling course.

Maybe this whole thing is a bit overboard, but when you hear of college students committing suicide over credit card debt, it might just be a big deal after all.