An assistant professor of law says that when a bank wants to justify offering a credit card to a college student, a student loan can be considered income. A survey of 500 students at the University of Houston and Baylor University concluded that banks are getting increasingly creative in order to avoid new restrictions by the federal government on the advertising of credit cards to college students.
The study found that the banking industry has created marketing methods in response to the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009, and those methods may well simply add to potentially overwhelming debt of our university students, which is what the government restrictions were designed to prevent in the first place.
