College is the first taste of the real world that young people get while still being protected by something that looks out for them. Most young people move away to college and even though they are still being funded by mom and dad they are given the feeling of what it is like, for the first time, to not answer to someone for everything they do. That first feeling of independence is great but also very intimidating.
As college students begin to make their own decisions about money, they are frequently presented with credit card applications. This is because credit card companies make a special effort to get college students without jobs to open accounts. Parents, though, can help their children at college to stay out of credit card debt by making sure their children understand the disastrous consequences they will experience later in life if they allow themselves to get buried in debt at a young age.
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