What Percentage Of College Students Carry Credit Card Debt?
Americans Tell Us How Much Credit Card Debt They Have
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What Percentage Of Us Students Have A Credit Card?
The percentage of U.S. students who possess credit cards has experienced a notable decline in recent years. In our 2022 survey, it was found that a substantial majority, over 67% of students, maintained an individual credit card account. However, according to the latest data from our 2023 survey, only 52.7% of respondents currently have a credit card in their own name. This represents a significant decline of almost 22% compared to the previous year, signaling a shifting trend. As of August 30, 2023, these statistics indicate a noteworthy change in the credit card ownership landscape among U.S. students.
How Many College Students In The Us Have A Credit Card?
As of December 21, 2022, a study conducted by Sallie Mae revealed that 57 percent of college students in the United States possess a credit card. This statistic sheds light on the prevalence of credit card ownership among college students. However, it’s important to note that despite this widespread access to credit cards, only 24 percent of these college students with credit cards express confidence in their financial skills. This data underscores the need for improved financial education and responsible financial management practices among college students, highlighting the potential challenges they may face in handling their finances effectively during their academic journey.
Top 44 What percentage of college students have credit card debt
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Key Takeaways. On average, college students have over $3,280 worth of credit card debt. 64.8% of college students have some form of credit card debt. The most common credit card mistakes college students make are only paying the minimum amount (44.7%) and missing a payment (37.6%).However, the number of college students who have credit cards has also gone down. In our 2022 survey, more than 67% of students had a credit card account of their own. The 2023 survey shows that 52.7% of respondents have a credit card in their own name, which is a nearly 22% decrease compared with the prior year.57 percent of college students have a credit card. (Sallie Mae) Just 24 percent of college students with credit cards feel they have excellent money skills. (Sallie Mae)
- The average American has $7,951 in credit card debt.
- Alaska has the most credit card debt of any state, with an average of $8,026 in 2022.
- Iowa has the least debt, with a balance of $4,774 in 2022 and $4,587 in 2021.
- Generation X has the largest amount of credit card debt at $7,004.
Learn more about the topic What percentage of college students have credit card debt.
- College Student Debt and Credit Card Usage
- Survey: Over 42% of College Students Have Credit Card Debt
- Student Credit Card Debt Statistics | Bankrate
- Jaw-Dropping Stats About the State of Debt in America – Yahoo Finance
- Average 2023 Credit Card Debt + Statistics in America – Annuity.org
- Do Young Adults Want Credit Cards? | Bankrate.com