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Though new rules in Connecticut may help some students, those already affected by credit cards may consider debt management p
01/13/2010
New rules recently took effect in Connecticut which limit the ability of lenders to hawk credit card debt accounts to students in the state.
As of the beginning of the year, credit card companies are no longer allowed to market their products during orientation or registration periods. Colleges and universities are also not allowed to sell their students' information to lenders.
Governor M. Jodi Rell signed the regulations last summer. At the time, Rell said that students already have to deal with debts like student loans.
"They risk taking on even more financial pressure when they give in to the lure of credit cards made available to them right on campus," Rell said.
Along with limiting the offers, the new rules keep card companies from trying to collect debts owed by student from their parents. Only parents who have signed on to be liable for the debts can be targeted.
Of course, if students are having problems trying to pay off their debt, they may consider other alternatives when creditors start knocking on their doors. They may look at debt management, which can help them pay off their debt at a lower rate.
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