College Students Trapped by Credit Card Debt :: Argumentative Persuasive Argument

College Students Trapped by Credit Card Debt My stovepipe adorer from my childhood is a market agents dream. incessantly duped and deceived by flashy ads and predatory marketing, this kid will buy anything - usuall on attribute. At last check, my friend had maxed out 4 credit tease to the tune of everyplace $30,000. Very rarely did the m unmatchabley go for something necessary, same accommodation or food, but usually was spent on a multitude of gadgets, toys, and other assorted guy-stuff. CDs, a subwoofer, X-boxes and PlayStations, new rims and tireshe scour whipped out the plastic to cover the $5,000 for his girlfriends new boobs In my humble opinion, this was probably one of his wiser purchases, but still highlights the fact that my friend has a serious problem managing his finances. Unfortunately, my friend is not alone(predicate), but is one of thousands of unassuming college students trapped by credit card debt. Potential problems caused by lousy credit history can bite hard. They include drop out of college, physical and emotional health problems, family conflicts, bankruptcy, job rejections due to fully grown credit, loan denials, inability to rent apartments, graduate school rejections, and even suicide (Manning, 160). About 3 4 percent of college students suffer from serious credit problems (Manning, 160). While this number may seem small, that translates into 304 students just at HSU alone (4% of 7611 total students). College campuses make fertile feeding grounds for predatory marketing strategies. College is a time of self-discovery, when many students are enjoying their first real tastes of independence away from the home. For many, obtaining that first credit card is a natural quality in establishing financial sovereignty. The fact of the matter however, is that college kids are also to a greater extent prone to naivety with credit cards, which often hide the true cost of buying on credit. According to the Nellie Mae Corporation (a division of the federal Sallie Mae fund), over 95% of graduate students get down credit cards, with the average student owe $4,776 in debt. 20% of those graduate students have debt between $6,000 and $15,000, and 6% have debt greater than $15,000.