Half of Students Graduate with $5,000 in Card Debt
WASHINGTON -- A survey from Sallie Mae showed that more than 50% of college students graduate with more than $5,000 in card debt.
Of the 13,000 respondents, one-third piled on more than $10,000 in credit card debt while in school, the survey found. Sallie Mae also reported that it found that only 19% said they did not acquire any credit card debt while in school.
Sallie Mae conducted the survey in January and timed the release of a limited number of its results for the launch of its "Be Debt Smart" campaign, which provides consumers with various tools and resources that encourage smart borrowing. Sallie Mae reports managing $142 billion in education loans and serves nearly 10 million student and parent customers.