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Students incurring record-high debts
With many students incurring record-high debts, universities and colleges across in Canada are taking a firm stance against mobile phone and credit card companies that target students on campus, reports The Gateway. "Some postsecondary institutions—like Fanshawe College in London, Ontario—have taken the dramatic step of banning credit card companies from advertising on their campuses altogether. A 2001 study commissioned by the federal government’s Millennium Scholarship Foundation found that four out of ten students have accumulated debt on their credit cards, with 24 per cent of those carrying credit card debts up to $500, and 19 per cent carrying credit card debts of over $2500. Along with the burden of credit card debt, mobile phones also mean heavy bills for debt-saddled students. “Cellphones are a much larger problem than students realize,” said Long. “They rope you into three-year contracts, and while $20 a month doesn’t sound bad, often the actual bills are significantly larger.” Related articles: -- Cell phones a high priority, even among poor teens -- Text alert over debt crisis facing youths -- Reading, writing and - phone bill lessons -- Teenage boy spent 8,900 euros ($11,010) on text messaging -- SMS-hooked teens provided legal aid -- Young Mobile users face traps -- Young ring up huge mobile bills -- German youths in debt due to cell phone bills |
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