A new fact sheet from Demos, College on a Credit Card, investigates the relationship between educational expenses and credit card debt, and shows that putting college on credit can be a very bad deal.
Demos conducted a nationwide survey of low- and middle-income households in early 2012. The findings in this brief summarize the relationship between college costs and credit card debt, and its impact on students and their parents.
A new report from the New York Fed suggests that even while the rest of household debt improved since March, driven by decreasing credit card and housing debt, student loans have worsened.
To increase postsecondary success among low- to moderate-income students, we must reform financial aid and provide additional financial supports to help students cover the cost of living expenses.