An Expensive Way to Get an Education

According to a nationwide survey by researchers at Smith College, 23% of college students use credit cards to pay their tuition and fees. Additionally, 52% are also charging textbooks and other school supplies.

The survey also found that more students had credit card debt than had student loans, meaning that the interest rates being paid are higher than if students borrowed loans rather than used their credit cards. All of this adds up, according to the lead author of the survey, as "an expensive way to get an education".

Other data from the survey can be found in the article on the Inside Higher Ed Web site.