2006-09-24 17:52:59 · 10 answers · asked by Maria G 1 in Business & Finance ➔ Credit
high risk. College debt is 55% more likely to go into default as non-college debt. The higher interest of those paying faithfully covers the losses of those renegging. Sad, but true. Similar to teen males paying more for car insurance.
2006-10-02 17:02:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Because college students are willing to pay higher APRs. They rack-up gigantic debts in college, and are stuck paying them off for the next ten years with high APRs, costing thousands of dollars a year in finance charges. Most people in college are financial idiots, and are counting on the dream that they will have a big money job as soon as they graduate. Which, of course, does not happen very often.
2006-09-24 18:02:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Because college students are notoriously bad credit risks as a group. And the banks think students don't know any better and are greedy.
You might like www.LearnAboutCredit.com
2006-09-30 19:13:36 · answer #3 · answered by Original Credit Guru 3 · 0⤊ 0⤋
Because college students are most time late in paying.
Get a M C card and they can now hit at 35% if you are late.So beware what card Your Kids take to school.
2006-10-02 16:56:40 · answer #4 · answered by canivieu 5 · 0⤊ 0⤋
My guess is that they would assume that college students, some without any credit histories, are a bigger risk than the general population?
2006-09-24 18:02:16 · answer #5 · answered by Aaron D 2 · 0⤊ 0⤋
Students are more of a credit risk--so a higher % is charged
2006-09-24 18:02:14 · answer #6 · answered by f4fanactic 6 · 0⤊ 0⤋
College students cost more no credit history
2006-10-02 07:29:41 · answer #7 · answered by pattibcacl 6 · 0⤊ 0⤋
No job, higher risk, higher interest rate. Gets better if you have a job :-)
2006-10-02 09:53:58 · answer #8 · answered by strosso 1 · 0⤊ 0⤋
bottom line profit and high deliquency rate
2006-09-24 21:05:08 · answer #9 · answered by robug 3 · 0⤊ 0⤋
because they can
2006-09-30 10:52:18 · answer #10 · answered by not a bad guy 2 · 0⤊ 0⤋