June 3, 2005

Students Carry Lower Credit-Card Balances

By ERIC HOOVER

A majority of college students frequently use plastic for purchases, but they are carrying slightly lower credit-card balances than they did four years ago, according to a study released in May by Nellie Mae, a major provider of student loans.

The study found that 76 percent of undergraduates had their own credit cards in 2004, down from 83 percent in 2001. Students carried an average outstanding balance of $2,169, a 7-percent drop from four years ago.

"I feel optimistic that

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