Plastic money should be managed well and college students should use it prudently. In the past the most concerning topics for parents, when they sent their children to college were wild keg parties, drugs and sex. The new concern that has arisen in the past 10 years is the imprudent use of credit cards. A study conducted in the year 2000 a study by Nellie Mae, the college loan behemoth revealed that around 78 % of the undergraduates had at least one credit card.
A recent study that has been conducted on the same lines has found out that this number has risen to 85 %. Around 14 % of the college freshman has at least 2 credit cards. Among the seniors this figures more than doubles to 29.8 %. A study conducted by the state of Oklahoma revealed that 33 percent of undergraduate students had four or more bank credit cards, plus two store cards, at least one gas-related card.
