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In another glaringly obvious MU study, researchers found that college students are graduating with mounds of debt – most of it from student loans that were used to pay off credit card bills.
Granted, this is a more legitimate topic than the students-with-fake-IDs-drink-more study. Credit card debt is an issue among students (thank you, free Domino’s pizza); as this study found, more college kids are paying off credit cards with student loan money and leaving school financially illiterate.
"Students get caught in a vicious cycle," said Mark Oleson, director of MU's Office for Financial Success. "They max out credit cards with expenses that are often not education-related and then transfer those balances to student loans. The following semester they feel that they are out of credit card debt and start using the credit cards all over again."
Translation: College students binge on extravagant spring break trips, expensive jeans and beer.
That doesn’t seem too different from, well, ever before (or at least the dawn of the credit card). Maybe if these researchers weren’t spending tuition dollars to tell students that college is unaffordable and debt is bad, loan money and credit cards wouldn’t be an issue. Or maybe spring break would just be better.







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