July 13, 2009
New Credit-Card Rules May Hurt Financially Insecure Students
President Obama's signing of the Credit Card Accountability, Responsibility, and Disclosure Act of 2009 portends significant changes in the way credit cards are offered to college students. A key new provision is that credit can be extended to students under age 21 only if one of two conditions is met: Either the credit-card application is co-signed by a parent, spouse, or other person over age 21 with financial capacity; or the student has an independent means of repaying the debt
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