Tuesday, September 11, 2012

In a new survey by CreditDonkey.com, 84.7% of college students surveyed said they feel responsible enough to use a credit card, even though three in 10 don't have one. The online survey of 1,041 college students was conducted between August 2 and August 27, 2012.

Highlights:

-30 percent got their first credit card at age 18
-60 percent were approved for the first credit card they applied for, while 28. One percent said they never applied for a credit card
-78 percent were aware that student loans cannot be wiped out in bankruptcy

One in four college students also reported that they would be willing to pay a financial literacy fee to support a college's financial literacy program. College students are also appearing less reliant on credit, with 60 percent of respondents primarily using their debit card for day-to-day expenses, as compared to 16 percent who pay with a credit card.

For full survey findings, visit http://www.creditdonkey.com/students-savvy.html.

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