College Credit Card Slide – The average undergraduate student carried $3,173 in credit card debt in
2008, the highest level since Sallie Mae began tracking it in 1998. In the last study, conducted in 2004,
students carried an average of $2,169 in credit card debt. Graduating seniors left college last year with
an average of $4,138 in card debt, a 44 percent increase over 2004. The average for freshmen rose 27
percent to $2,038. Tuition and fees at public four-year colleges have increased 50 percent in the past 10
years to an average of $6,585, according to the College Board. -- From “The Weekly Commentary” a free newsletter from PGN Financial Services, LLC
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