“Researchers have found that students who felt stressed financially had lower grades than those who did not.”
Credit card debt can add an extra financial stress on students. Normally, credit cards have a higher interest rate than other types of loans. A student with higher credit card debt may have to work extra hours in order to make the monthly payments, thus reducing the time for studying which may affect the performance in school. As credit cards are very useful at times, spending should be done responsibly, so it doesn’t accumulate debt that you cannot pay.