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9/6/2007
A September 5, 2007 Business Week article discusses the degree to which credit card debt can become a problem for some college students. Often the target of marketing campaigns on campus, college students may be less likely to read the fine print or fully understand their obligations when they apply for a credit card. Before they know it, late fees and higher interest rates have increased their debt to an unmanageable level. In less than a decade, the number of college students who have a credit card has increased from 67% (1998) to approximately 75% (2007). Some consumer protection groups are advocating the ban of credit card companies on college campuses.
The article is available at the MSNBC Web site.
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