An online survey of college graduates ages 22 to 40 was conducted to gather data on what kind of credit offers they accepted while in college and to assess the kind of financial standing they had at the time of graduation.
The survey was conducted of 3,631 College grads or those who have attended some college, aged 22-40 from 7/30/08 to 8/4/08.
40% said they signed up for a credit card to receive the free stuff for signing up. Yet 52% had debit when they graduated. Over 69% of those had between $1000 and $10,000 of debit. 10% had more than $10,000 in debit.
Those results follow:
Have you ever signed up for a credit card to receive a free gift or special offer?
Yes: 40%
No : 58%
Not sure: 1%
Did you have credit card debt upon graduating or leaving college?
Yes: 52%
No: 47%
Not sure: 1%
About how much credit card debt did you have by the time you graduated or left college?
$0-$500: 12%
$501-$1,000: 15%
$1,000-$2,500: 23%
$2,500-$5,000: 22%
$5,000-$10,000: 14%
More than $10,000: 10%
Not sure: 3%
Of those who say they had credit card debt upon leaving or graduating from college, a plurality (23%) says they had $1,000 to $2,500 in such debt. Twenty-two percent say they had $2,500 to $5,000 in credit card debt when they left school, while one in seven (14%) say they had $5,000 to $10,000 in such debt. One in ten (10%) say they had more than $10,000 in credit card debt by the time they graduated or left college.
Source, True Credit
