Good News: Most College Students Pay Credit Card Bills in Full Each Month
A new survey from credit bureau Equifax finds that nearly 70 percent of college students have one or more credit cards, and a slightly higher percentage pay off their own balances in full each month.
This is good news, since college students are already debt-burdened by their student loans.
It’s also a good indication that today’s youth are developing good money-management skills.
In anticipation of the back-to-school season, Equifax commissioned a blind survey of more than 600 American college students between the ages of 18 to 24, also referred as Generation Z.
A majority of respondents who had credit cards actively use them for a variety of purchases.
Despite this, Generation Z is not racking up unpaid credit card debt at high rates.
The majority of survey respondents (59 percent) who do not pay off credit card balances each month, plan to do so within a year.
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