An article posted on MSNBC.com on July 19, 2006 titled, "Study Tracks College Tuition, Credit Cards," documents the results of a study indicating that half of all college students have their own personal credit card, and 25% of those use it to pay for tuition. Among those students, 55% were carrying a balance on their cards and paying much higher interest rates than are available through student loans and payment plans.
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