Reality Check: Kids and Credit

Quiz

1. What portion of today's college students have at least one credit card?

  • 1/4
  • 3/4
  • 2/3
  • 1/3

2. How long would it take for a college freshman to ultimately pay off his credit debt if he spends $1900 and pays only the minimum each month?

  • 10 months
  • 2 years
  • 6 years
  • 23 years

3. What is the average undergraduate's credit balance?

  • 546
  • 1261
  • 2226
  • 5559

4. How much money did teenagers in the U.S. spend last year?

  • $100 million
  • $500 million
  • $10 billion
  • $141 billion

5. If the current median household income for a high school graduate is $30,000, how much is the median household income for a college graduate?

  • 32000
  • 47000
  • 60000
  • 100000

1. What portion of today's college students have at least one credit card?
2/3

2. How long would it take for a college freshman to ultimately pay off his credit debt if he spends $1900 and pays only the minimum each month?
23 years

3. What is the average undergraduate's credit balance?
2226

4. How much money did teenagers in the U.S. spend last year?
$141 billion

5. If the current median household income for a high school graduate is $30,000, how much is the median household income for a college graduate?
47000

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