However, there is one major factor that could be standing in your way to earning that free degree; credit card debt.
In 2008, the average number of credit cards per college student had risen to 4.6 cards. The average balance on those credit cards was just over $3,000. Young says this not only adds to your debt but can pile on the emotional stress too.
"They feel like they're constrained now they can't the job necessarily that they want," Young said. It's a little bit too much risk because they have all this debt, they can't move to the city that they want because they just can't afford to, and they can't like I said, delay getting married or having children, all these things that should be a normal part of life."
Young recommends opting for debit cards or strictly using cash instead. That way you can never accumulate debt on your card, you only work with the money you have.
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