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4/13/2009
An April 13, 2009 Chicago Sun-Times article reports that, according to a recent study, undergraduate college students had an average of $3,173 in credit card debt last year. This average indebtedness figure has increased more than $1,000 since the study was last conducted in 2004 (at that time, undergraduate students had an average credit card debt of $2,169). The average amount of debt for college seniors is approximately twice that of freshmen. The study, which was conducted by Sallie Mae, is based on credit bureau data from March 2008.
The article is available at the Chicago Sun-Times Web site.
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