I have children in college and need some financial tips.  Any suggestions?

A friend and I were discussing her experiences at the Orientation weekend for her freshman in college. Of course she mentioned the dorm room, professors, high tech library and cost of text books and tuition.  She also mentioned the large number of booths set up by credit card companies who were giving away T-shirts to students setting up accounts.

As college students everywhere are hitting the books, credit card companies are aiming for their wallets.

Eighty per cent of college students have at least 1 credit card and nearly 1 in 4 of college students have credit card debts between $3,000 and $7000.

If you have a family member in college clip this article and send it to them.  Use it to warn them that their choice to use credit cards at college is the start of their credit history for a lifetime.

While we're on the topic of college students and money, put a paper shredder on your list of gift ideas for your family's college coed.

Since when did a paper shredder find its place on college student gift lists? When identity theft became a problem on campus as well for any consumer. Many people are shredding all those solicitations that come through the mail each day containing personal information which may be stolen.

College students also receive too many credit card solicitations and pieces of mail with their social security numbers printed on them - all of which should not just be tossed in the wastepaper basket. Providing a paper shredder for your college student just may save them a bad experience with identity theft.

Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri-Columbia, University Outreach & Extension

Last update: Tuesday, July 05, 2005