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Spring break should bring fun, not credit card debt, into a student's life
By Edith Barlow on Mar 17th, 2010
Many college students may be getting ready for spring break trips, though preparing should involve more than just where the best beaches are.
A recent report from the Boston Globe noted that students who are traveling for spring break can take a few steps to ensure the trip doesn't put a huge dent in their pocketbook. One thing they can do is make sure they budget out how much money they have to spend.
Along those lines, vacationing students should only use their credit cards if they know they will be able to pay off what the trip will cost in full.
"Students typically have very high credit card rates, and your trip can easily cost double or triple if you charge it and then pay it off in increments," the Globe said.
A recent report from Sallie Mae showed that students are amassing more credit card debt. In 2008, the average credit card debt for a graduating college senior was $4,100, compared to the $2,900 average seen in 2004.
As debt increases, so could a student's need for help with dealing with it. One option they may consider is debt consolidation, which can help with student loans and credit card debt.
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