Giannoulias proposes legislation to protect college students

Illinois State Treasurer Alexi Giannoulias wants to crack down on credit card companies preying on Illinois college students by prohibiting on-campus giveaways and restricting access to student information. Student loan lender Nellie Mae conducted a student survey in 2005 that showed 76 percent of all undergraduate students had at least one credit card. However, by their senior year, 56 percent of undergrads carried four or more credit cards with an average balance of nearly $3,000 on top of student loans. This news story aired on WAND-TV in September 2008.

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YouTube | September 10, 2008

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