Student debt should not benefit schools

We are all used to the term “student debt.” Increasing student loans and plummeting credit scores haunt us as we enter a post-graduation world. But for some universities, student debt is a benefit.

Students have had a history with bad credit, overspending and putting tuition and living costs on their credit cards. We have all complained about how we feel taken advantage of by the credit companies with their fine print and outrageous interest rates.

But colleges have started sleeping with the enemy. Some have forged relationships with credit card companies, like Michigan State University with Bank of America. The university is paid for the use of their logo on promotional items, permission for presence at school events like football games, and for the names and contact information of students. In turn, Bank of America has a captive audience for advertising, and students are drowning in debt. In some cases, universities make more money when students have a balance on their card.

Universities should not capitalize on student frailties, and students need to be more aware of advertising ploys and take care of their credit.