As the Dad of a college sophomore, I'm amazed at how many credit-card offers he's getting. He could easily borrow $20,000 before the card companies had any idea what was going on. So I'm happy that U.S. PIRG -- the group that grew out of campus public interest research groups started by Ralph Nader in the 1970s -- is pounding the drum about this. Credit card companies are being too aggressive at recruiting college kids. Some of the practices sound like subprime mortgage shenanigans. To the extent that the universities are encouraging this in exchange for "revenue sharing," it's really objectionable. From the U.S. PIRG press release:

Credit card companies are targeting college students with enticing teaser offers for low-cost credit cards that turn into a credit card “trap” with high fees and penalty interest rates. Often, the card companies set up tables right on campus and hand out free gifts to applicants. The students, already facing high and increasing costs of education, may be misled into taking on high-cost credit card debt. The project will educate students about credit card practices and will urge colleges to adopt principles for responsible credit card marketing.

Campaign will include counter-marketing educational projects on 40 campuses across the country, a new website, a coalition urging colleges to adopt marketing principles, and publication of research reports on credit card marketing practices. This project of the U.S. PIRG Education Fund and participating PIRG student chapters is funded by the Ford Foundation.