N.J. LAWMAKERS LOOK INTO COLLEGE CREDIT CARD DEBT
Last Updated - 9/16/08 03:54 pm
RICHARD STOCKTON COLLEGE - College students and credit cards can spell big industry and big debt.
Lender Nellie May reports the average college graduate carries with him or her $2,700 in credit card debt.
To tackle the problem, New Jersey lawmakers are considering a measure that would put restrictions on how credit companies solicit business from students.
That could mean no more giving out freebies to get students signed up and no buying students contact information from college directories.
And credit card companies would have to register with colleges, like Stockton already requires.
"Give us some sample of the education session that they might put on for the student in order for them to come on campus to do anything," says director of Student Development Lamott Moore, "throw a pitch to (our staff) first."
Experts believe with better information, students will make better decisions.