They could resist the lure of Austin's many clubs and bars, but they don't. For many students, it starts in their freshman year. Keeping up with the Coxes. But this fictional world is pretty cushy. For many, the only way to afford to live so well is through the magic of plastic.
Basic ignorance exacerbates the problem.
Card companies take advantage of the confusion. But skipped payments benefit only the lenders, who are charging sky-high interest. Debt is shaping the career aspirations of a generation. Desiree Saylor, a senior at the University of Texas, says she had hoped to work in academia as a physical anthropologist. Even the children of the wealthy find career options affected by their debt.