Editorial - The College Credit Card Trap - NYTimes.com

The New York Times editorial board wants Congress to pass a law restricting credit card offers to college students. They say that these college students are "naïve about money matters and vulnerable to predatory offers." I call shenanigans. College students aren't middle schoolers. They can understand the concept of 30% APR. They can figure out that the only place these offers belong is the recycle bin. To treat college students like children is to ignore the fact that they are fully vested adults. In fact, for some students credit card debt may be the best way to smooth out income and expenditures to maintain a healthy financial position. To coddle them, shield them, and take them under the massive governmental wing is paternalistic. Kids can use their minds too. Maybe each of us can try a little harder tomorrow and let the banks waste their money on postage.