There is a major debt crisis that is causing Americans to live in despair. And the creditors are now striking at the young people to get them used to spinning their wheels on the credit treadmill at a naive young age. The big credit card banks post up regularly right outside of university campuses offering young unemployed students credit cards pre-approved with $5,000 lines of credit. All with the intent of getting students over their heads in debt so once they graduate they will be paying off their credit cards for the rest of their lives.

This causes many problems for students. One detrimental problem is that kids need to take time away from studying to work more hours to pay off high interest credit card debt. Some situations force students to completely drop out of school to get full time employment to pay off their debts.

For anyone who has seen the very unnerving documentary 'Maxed Out' you can see first hand how bad a debt problem in college can affect students. There were two college kids whose heartbroken parents were interviewed, both of whom committed suicide over their overwhelming debts that they owed. The harassment from collections agencies didn't at all help the situation. Plus many more young students fall into deep depression because of the stressful debt situation in.

These creditors even go to the extent of hiring other college students to solicit their credit cards within the dormitories. Some students will earn up to $20 for every student who applies to get a line of credit. These are only the techniques that I have heard about, although I am quite certain there are more.

One way to counteract this epidemic would be to teach students in high school before college about the associated consequences that come with having lines of credit. There should be a core course adopted into the curriculum of high school seniors teaching them on what could happen if they abuse credit. The course should also teach seniors how to correctly manage their money to avoid any stressful financial problems in college.

Debt settlement is a very attractive method of credit card debt relief for the college students that have found themselves in a overwhelming debt situation that they can no longer bear to handle themselves. It will help college students save money and become released from the horrors of debt within a few years, so when they graduate college they will not be burdened with a large debt amount over their shoulders.