Would you loan money to someone who has no history of paying your money back?  Would you loan money to someone who doesn’t even have a job?  If you were a major credit card company you would.  Credit card companies are increasingly marketing their cards to college students, perpetuating the rampant use of credit for a whole new generation.

On campuses all around the country credit card companies are setting up tables with gifts for anyone who applies for a credit card.  You would think that colleges would discourage their students from starting a lifetime of debt.  However, the fact is that many colleges are not only encouraging students to use credit, but actually entering into agreements with these companies to market their product on campus.  Some universities say that the additional revenue that these agreements provide help to offset rising tuition rates as well and helping students afford college because of a decrease in state funding.

Some states have passed laws making it illegal to market credit cards on campus.  But, this doesn’t stop the credit card industry.  They simply set up their operation just off campus at student hangouts and on city streets.  It seems that these companies will go to any lengths to capture this new generation of consumers.

These students who are in their teens or barely out of their teens are lured into the credit trap without any real knowledge of how to manage credit responsibly.  By the time they graduate and enter the “real world,” they are already thousands of dollars in debt.  Add this additional financial obligation to the debt created with student loans the credit card companies the industry is setting up a new generation for a lifetime of debt.  They make it “cool” to carry credit cards.

With peer pressure as prevalent as always many students find themselves on the outside by not having a credit card.  The credit card companies also charge these newly formed adults some of the highest rates on the market.

As parents of these young adults we often have to come to the rescue of our children and end up further in debt ourselves.  Not only are we paying for an expensive education for our kids but are now strapped with the additional burden of paying our children’s new debt.

Is it fair to take advantage of young people by offering this easy credit?  Of course it’s not but the credit card companies don’t care about people.  Their concern is the bottom line at any cost, even if it leads to a lifetime of heartache for the youth of America.

Not only do we need to teach our children fiscal responsibility but we need to demand that credit card companies take responsibility for the future consumers.  It seems that corporate America has no interest in responsible marketing.

Today’s students are able to buy chic clothes, fancy luxuries for their dorm rooms, and the ability to keep up with their friends.  What they are not getting is an education on financial responsibility.