Financial Aid Blog

How Do You Stack Up on Credit Card Debt?

The Average College Student Has $3,200 on Credit Cards—How Do You Stack Up?

If you're a typical student, you carry an average of $3,200 in credit card debt. If your credit card's interest rate is about 14% and you pay $100 a month, it will take you almost three and a half years to pay off your debt, including an additional $829 in interest.

Join the Great Lakes webinar "Credit Card Smarts" on November 4 at 1:00 p.m. Central time or November 11 at 1:00 p.m. Central time and learn how credit decisions can shadow you throughout your life—for better or worse. You'll learn how to understand and successfully manage a credit card, which will help you minimize debt and make the most out of your money. When you leave this event you'll know about the new credit card laws, learn key tips on how to manage and protect your credit, and understand how to evaluate credit card offers and statements.

previous main next