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.