College Students Using Student Loans to Bail Out of Credit Card Debt

College students are using student loans to bail out of credit card debt, leading to poor real-world money management skills and future financial burdens according to a personal financial planning expert at the University of Missouri-Columbia.

"Students get caught in a vicious cycle," said Mark Oleson, director of MU's Office for Financial Success. "They max out credit cards with expenses that are often not education-related and then transfer those balances to student loans.

The following semester they feel that they are out of credit card debt and start using the credit cards all over again."

Read more at: College Students Using Student Loans to Bail Out of Credit Card Debt