According to Jeremy M. Simon of CreditCards.com, “Among the things they don’t teach you about in school, but probably should, is credit card debt.”

Every year and every minute, college students are receiving credit card offers in the mail, offering them one of the first steps towards gaining financial independence.

Yet, the sad truth is that many college students face debt and bankruptcy every year as a result of what Simon explains as a lack of education on the many dangers associated with credit cards.

According to a 2009 study by Sallie Mae, undergraduate college students are carrying record-high credit card balances. The average mean balance grew to $3,173 – the highest in the years the study has been conducted. Median debt grew from 2004’s $946 to $1,645. Twenty-one percent of undergraduates had balances of between $3,000 and $7,000, also up from the last study.

Seniors graduated with an average credit card debt of more than $4,100, up from $2,900 almost four years ago. Close to one-fifth of seniors carried balances greater than $7,000, according to the same study.

These concerns are significant, and can be greatly attributed to the lack of financial literacy available at home and in schools.

According to the California Department of Financial Institutions, only 26 percent of people between the ages of 13 and 21 are taught strong money management skills by their parents. According to the same study, only 3 percent of public high schools across the state offer courses related to personal finances and how to manage it.

If children are not learning how to manage their expenses, income and payments in a way that ensures they are responsible, economical and sound spenders and savers, then how can we expect our college students to know any different?

As such, credit card and debt management courses should be created for high school and college students to inform them about the potential risk of credit cards. While we’re at it, we should start even earlier at the elementary level to introduce our future generations to accountable and astute practices.

Most college students borrow money and rely on loans to pay for the many expenses of their college education.

In addition to the cost of tuition, many college students also pay for food, living expenses and transportation. These fees add up quickly and most college students rely on borrowed money as a result, which increases their debt further.

About two-thirds of bachelor’s degree recipients borrow money to attend college, either from the government or private lenders. Students who used credit cards to pay for direct education expenses estimated charging $2,200, more than double 2004’s average of $942, according to a Department of Education survey of 2007-8 graduates.

The numbers continue to go up, and as tuition at local state universities continue to increase along with a weakening state budget, we need to educate our children now more than ever on how to take charge of their finances.

It is quite unfortunate we do not teach our students more about personal financing and budgeting. We can prevent substantial debt simply by instilling healthy practices as young as possible. This behavior can translate into a healthier economy, fueled by intelligent and responsible taxpayers and workers.

The solution to this problem is simple: inform college students about all of the risks of credit cards and create courses at our public elementary and high schools to educate students on how to manage finances.

Credit card companies aim to make money, while college students aim to pay for their education. Debt can become a major concern for college students who are not prepared for the fees, cost and responsibility of a credit card at a time when they should be focused on preparing for their future.

The future of college students in debt will only continue to increase if college students remain uneducated about credit cards.

College students can prevent credit card debt and financial hardship by researching all of their options before getting a credit card.

If we begin to think about preventing mistakes by beginning to shapes tomorrow’s future today, we might have a better chance of electing politicians and congressmen who are better prepared in finances.

Education is always the answer, and as such we need to increase it to repair and rebuild the future.