The average college student credit card debt is around $3,200. A student’s credit card debt heavily depends on their age, their year in school, their employment status, and how many credit cards they have.

A Sallie Mae Study

According to this Sallie Mae study from April 2009, the average credit card debt varies significantly from college freshmen to seniors. Freshman had an average of $2,038 in credit card debt, while college seniors carried an average of $4,138.

Why So Much Debt?

Another 2004 study showed some very interesting statistics, one being that 78% of college students got their first credit card between the ages of 18 and 19, and of those students, 65% failed a financial literacy test. Apparently, many of us we know how to spend money, but we don’t know how to respect or protect our money. 43% of college students have 4 or more credit cards in their name. The study suggests that the high credit card debt figures also correlate to the increased tuition and fees at four-year public universities.