In “Credit Card Debt among College Students: Just What Does It Cost?,” Robyn Sylves argues that credit card debt is possibly the most significant problem on college campuses today. She cites three main causes: universities guilty of making deals with credit card companies for student information; students’ financial illiteracy; and the need for “instant gratification” (508). Sylves offers recent statistics on the amount of debt college students are accumulating in four years’ time (sometimes up to $20,000). She believes that education is the key to solving this problem: college students must understand how poor choices can damage their financial reputations for years.
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