The rising costs of college have resulted in students turning to credit cards for financial assistance.

Question

BlackTom AI · Accepted Answer

Consider the statement and what it implies about student financing behaviors in the context of rising college costs.
Option 1: True. This suggests that higher tuition and related expenses push students to rely on credit cards as a form of financing or emergency funds. Support for this view can come from concerns about gaps between need and available aid, limitations of traditional student loans, and the convenience or accessibility of credit cards for coverages such as books, living costs, or non-tinancial expenses. It also aligns with discussions in financial literacy and consumer credit literature that rising educational costs can pressure students to utilize revolving credit.
Option 2: False. This would claim that increasing college costs do not drive students toward credit cards, implying that students either don’t use credit for educational expenses or rely exclusively on other funding sources (savings, grants, scholarships, parental support, or student loans) without resorting to credit cards. However, data and research in student finance often show that gaps between costs and funding can lead to the use of credit cards as a supplementary source of funds, so this option overlooks a plausible and documented pathway.
In evaluating the claim, it’s important to distinguish between correlation and causation, and to recognize that multiple funding strategies may coexist. While not all students will resort to credit cards, the general trend in periods of rising costs often correlates with increased credit card use among some students, particularly for ancillary expenses not fully covered by other aid.
Additionally, consider potential caveats: credit card use for students can vary by demographics, availability of parental support, campus programs, and financial literacy, so the statement may be more accurately viewed as reflecting a tendency rather than an absolute rule.
Overall, if one weighs common explanations for student financing, the assertion that rising college costs have led some students to turn to credit cards is plausible and supported by context, whereas claiming no such relationship would ignore observed patterns in student borrowing behavior.

FSOS 1301 (001) Final Exam/Quiz

The rising costs of college have resulted in students turning to credit cards for financial assistance.

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