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HomefinanceCollege students struggle as US credit card debt hits a record high

College students struggle as US credit card debt hits a record high

HOUSTON – U.S. Credit card debt recently hit a record $1 trillion and research shows that 42% of college students are a large part of that number.

Financial experts say we’re seeing more people struggle with their finances and use credit cards for basic living expenses. University of Houston student Zarek Rashid says it can be especially tough for college students like himself.

“College is already expensive enough. I have a considerable amount of credit card debt, and I’m able to just barely manage it” Rashid said. 

“I think the mindset it, ‘I will accumulate the debt now, and pay it once I graduate. So, that’s something consider, what is the earning potential of my education, and can it suffice the debt I’m taking on?” Lopez said.

According to a new survey from Intelligent.com, only 46% of college students work in the fields they received degrees in.

Joy Addison joined Fox News in 2022 as a multimedia reporter in Houston.

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