It's almost a crime what colleges charge for tuition these days. And it's not much better how credit card companies target college students BEFORE they even get a job and make enough money to use credit cards. Sure, both are businesses and it is their job to make money.

But the culture of getting in debt is starting WAY too early across college campuses.

I read this article the other day, Student Loans are the New Indentured Servitude, and was amazed at just how much recent college graduates owe when they get out of school:

It's a little technical, but it makes a strong point. OK, I know college is expensive. Been there, done that. So I know what it is like to pay back your student loans.

But what message are we sending to young people by making them struggle under such incredible debt before they have the means to pay it back? If they can't pay back their loans, how will they learn to pay all their other expenses? By using credit cards?

No, I don't have a good solution to this problem. It's the same at most colleges these days. But I just can't help but wonder whether college is ever worth it for many of these young people. Especially when these loans and credit card bills don't come with any instructions on how to manage money.

Bad way to start adulthood. Tough lesson to learn the hard way.

Hopefully most of them will find a way to break through and not think that having debt is cool.

So, which do you think is worse for college students, credit card debt or even bigger student loan bills?

My biggest surprise as a college student wasn't the wild parties, the burning couches (thrown from the windows of "The Jungle" at UConn), the freedom to go to sleep and wake up whenever I wanted, or the ability to party 7 nights a week.

It was the ease of getting an American Express card with just a signature (and virtually no income)! I have to admit, it was fun to walk around campus with my new green AMEX card. And it was fun getting a call from my friends who went down to the casinos in Atlantic City NJ telling me they wish I had gone with them because "there are these cool machines that take your credit cards and give you money!"

But what a horrible lesson to teach a young adult in college, right!

You can buy things even without any money. All you have to do is use your card, and pay later. Never mind that you can barely pay for a pizza on a Friday night. You can but whatever you want, anyway (well, with AMEX you need to pay in full every month, but for most cards you don't).

Well, the new credit card rules that go into effect in February 2010 require that credit card companies can't just give away credit cards to applicants under 21, unless they can prove their ability to repay the cards or get a co-signer.

On the one hand this sounds like a great idea. After all, college students aren't responsible adults yet, are they? That's what I was thinking.

Until I read this article that states Credit Card Act treats adults as children. Now I'm not so sure.

What do you think? Are college students over the age of 18 adults who should be able to get a credit card and learn how it works before they're out in the working world full-time? Or should the credit card companies have the burden of treating college student special and make sure they know what they are getting into?

Are you kidding me? Yesterday I read a startling article that said our government representatives are actually considering - once again - passing the ASPIRE Act.

Now, I don't get into politics at all, so I'm not reacting to this in a political way. If you are into politics, here is a more political response to the issue.

But the consumer in me is irate that our tax dollars might be spent giving people money just because they are born. Now, I'm all for teaching kids how to save money. In fact, if most of us learned how to manage money at an earlier age, we'd probably have a LOT less debt!

Personally, I think handouts are the WORST way to teach people how money really works. Trust me, if I thought this would actually teach kids and their parents how to save and how to manage their money, I'd be all for it.

But this won't do either.

I don't care how many rules they put in place - to pay back the money, to only use it for college or buying a house, whatever - it won't work!

Why not?

Because giving people something for nothing won't teach them anything!

It will just teach them that when the going gets tough, "the government" will step in and help. And who funds this government?

We do, of course.

Thankfully, the ASPIRE Act has already been around the block a few times and has not been passed previously.

So, here are 5 better ways to spend this money than on something crazy like the ASPIRE Act: 1- Help create jobs 2- Pay down the national debt 3- Help struggling businesses with low interest loans 4- Stimulus money (like cash for clunkers - which was still not a great way to spend taxpayers money, but at least it is better) 5- More vocational or financial training programs in schools

Obviously, I'm not a social or political activist with lots of great ideas for saving our country. But please, anything but a freebie just for being born!

Do you agree? Or have any better ideas?

Since I've been running this site for 7 years, I know that debt is stressful. I hear from people with credit card debt every day. But this is a real bad sign about just how stressful it can be:

Workplace suicide rate up dramatically

I hear from plenty of people who have good jobs, work hard, don't live their lifes in luxury - and STILL have way too much debt!

Why the heck do we let money define our lives? And why don't we stop spending if we don't have the cash or savings to pay for something? How can so many people get the wrong message, and still use credit cards when the balances keep piling up?

Debt sucks, that's easy to figure out.

But the reason it affects so many people to such a large degree is the false hope it gives us:

- No interest for 12 months
- Buy now, pay later
- Small (affordable) monthly payments even for large purchases
- Credit applications in the mail, online, and at every store
- More credit is easy to get even when you're struggling
- It keeps multiplying and growing slowly over time so we don't notice we're in trouble until it's too late!

So do yourself a big favor - be honest. Don't buy if you can't afford. Don't apply for more credit just because it's so easy. Remember those who fell victim to the pressure and took their own lives.

And don't let it happen to you!

Let's get one thing straight - if you've got too much debt, it's not the credit card companies fault. It's your own fault.

Sure, they shouldn't be sending all those tempting offers to people whose credit cards are already maxed out. And they shouldn't approve more credit to those who are obviously in way too deep.

But nobody forced you to use them, right?

Ok, how here's another perspective:
Woman revolts, won't pay credit card bill

This woman got so fed up with all the nonsense that she decided to stop paying her credit card bills. And go public with her decision!

While I'm not sure I'd use her strategy, I do think that if enough people did the same thing, maybe the credit card companies would start to listen. And stop charging outrageous fees. And stop changing the terms of our agreements just to boost their profits.

What do you think? Will her actions do any good? Is she wrong to do what she did? Would you ever think about doing the same thing and stop paying your credit card bills if you felt that enough was enough?