Filene Research Institute

Through independent research and innovation, the Filene Research Institute explores issues vital to the future of credit unions and consumer finance.


Credit Card Consolidation Loan

Young Americans are inundated with credit card offers and many of them are barely treading the water of the resulting debt. College students in their final year carry an average of $2,864 on their cards, according to data from student loan giant Nellie Mae (See Cold Hard Facts). Graduate students, on average, carry more than three times as much. At least one major credit card issuer has made new student accounts 25% of its annual new card goal, according to author Anya Kamenetz. And students aren’t the only ones building mountains of high-interest debt at an early age.

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