The Freshman $ 1000: How To Help Your College Student With Credit Card Debt
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Instead of gaining the infamous freshman 15 of extra pounds, your student has fallen prey to the Freshman $ 1000 by quickly running up credit card charges soon after arriving on campus. But unlike other mistakes that your student is bound to make, getting into debt and missing payments can affect his future for years to come. And because of the Credit CARD Act of 2009, unless your student has significant income, you most likely are a co-signer on your college student’s credit card and their debt can directly impact your credit as well.

“Unfortunately, financial disasters are not like broken bones that can quickly heal. Credit mistakes that young people make have a way of hanging out for a very long time and on-the-job training in the world of credit debt can be very painful,” says John Ulzheimer, President of Consumer Education for

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