Consumer Payment Card News

Student Behaviors

A new study has found that 31% of students do not worry about debt and that 23% choose to ignore overdraft penalties and the prospect of months or years of paying off a debt incurred for a “moment of fun.” The poll also found that 25% of college students think it is reasonable to run up a debt to splurge on a special celebration or to use a credit card as a way to “raise cash.” However, the poll discovered that 92% agreed bad debt will have a significant impact on a person’s ability to get credit in the future and 46% say they always keep records of their spending and receipts. NARCA noted that numerous surveys have endeavored to capture data on the growing amount of debt students acquire and maintain. But none have looked at what behaviors are feeding these bad habits. The poll was sponsored by the National Association of Retail Collection Attorneys. For more information visit: “http://www.narca.org”:http://www.narca.org

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