Is a credit card for your college student a good idea?

That question can only be answered by you, a parent or guardian who knows what level of responsibility your adult child can handle.

Credit cards for students have been around for quite some time, offering a way for students to cover some of their expenses without carrying a lot of cash. Knowing that your child has access to a credit card when their car breaks down in the wee hours of the morning can be reassuring as that piece of plastic will allow the car to be towed back to campus or to a local garage.

But with any consumer lending option, shopping for student credit cards means comparing offers. That means you shouldn’t rely upon whatever offer comes in the mail nor should you feel compelled to use your current credit card provider. Credit cards for students, especially those who take your adult child’s current educational needs into consideration, can be useful provided they offer the following to you:

• A low or zero percent introductory rate.

• No annual fees.

• Rewards points toward discounts at hotels, car repairs, entertainment items,etc.

• Electronic payment options and electronic statements.

• A grace period to allow your student to pay the credit card balance off every month without incurring interest charges.

Some student credit cards require that you, the parent or guardian, co-sign the credit application with your student. Others may try to tack on a higher interest rate or charge other fees if your child has little or no previous credit. You can always negotiate directly with the credit card provider to ensure that the interest rate you receive is the lowest one possible.

Finally, you will need to work out a plan with your adult child on card usage, budgeting, payments, etc.

Securing a student credit card can be an education lesson all by itself. Make certain that everyone understands what is required of each party and use that opportunity to help your adult child achieve a measure of financial freedom.

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Adv. — Does your college student need a credit card? Shop around to find and compare the best offers, deals that can benefit your student and help them as needed. Please visit SayStudent.com for the information you need to find the credit card that is right for you adult child.

Tags: credit, rewards cards, student credit cards, student lending

nBuy Associates, the owner of SayCampusLife.com, has announced that its ten-year old college information portal, OfftoCollege.com, has been over overhauled. The revised site, featuring a summarized financial aid section, comprehensive tools set, as well as a refreshed step-by-step guide for first-time students, is now live and ready for use.

OfftoCollege.com was founded in September 1998 with a mission to educate prospective and current students and their families, by providing them relevant and current information about colleges and how to pay for their education. With college costs rising twice as fast as the rate of inflation, OfftoCollege.com has kept pace with changing financing trends to help families find ways to pay for college.

The centerpiece of the modified site is its Financial Aid Guide which offers walk through advice on financial aid steps, aid options, and helpful tools such as an aid map, aid book, and budget planning tips. The site offers free downloads of its e-books and tools which can be accessed by anyone who has free portable document reader (*pdf) software installed on their computer (certain comparative tools require spreadsheet software). Adobe Reader software is available for free at www.adobe.com.

The step-by-step guide for new students is particularly helpful for high school students who are looking for a road map to help them through the college search process. Five steps in that process are explored including college prep, college search, college admittance, paying for college, and getting ready to leave for college.

Families with freshmen and sophomore high school students can find the guides to be quite useful with an emphasis on helping high school juniors and seniors complete the steps necessary to transition to college. Additional guides and tips are also available for current college students who are exploring their educational options beyond their undergraduate studies including grad school and continuing education programs.

nBuy Associates is based in Glen Allen, Virginia and is accredited with the Better Business Bureau’s BBBOnline Reliablity Program.

Tags: college aid, College Planning, college portal, college prep, student lending, website