Credit reform means new era for college students

Source: google.com Posted By: Bill 5453 days ago

It's an end of an era for the thousands of college students who rely on MasterCard or Visa to get them through tight times.

Under a new law awaiting President Barack Obama's signature, credit card companies will be prohibited from giving cards to people under 21 unless they can prove they have the means to repay the debt or a parent or guardian co-signs for the loan.

Congress passed the bill this week, and Obama was expected to sign it into law Friday. The changes will go into effect in nine....

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