by Joseph Kenny | 03/13/08

The Attorney General of Ohio is among those public officials working to rein in credit card marketing on college campuses in his state.

Last year, Ohio AG Marc Dann filed suit against a pair of fast food restaurants and a bank for trying to entice Ohio State University students to apply for credit cards by offering them free food. Dann later dropped the case against Potbelly Sandwich Works after the company decided to screen a documentary on credit card debt to members of the student body.

The U.S. Public Interest Research Group is applauding Dann for his efforts to prevent college students from falling into a mass of credit card debt.

"From PIRG's perspective, campus credit card marketing is simply out of control," said Ed Mierzwinski, the group's consumer program director.

OSU Student Government President Kate Christobek said a number of students are battling high credit card interest rates, fees, and assorted penalties.

Dann also plans to enforce state laws requiring credit card issuers to reveal their interest rates, fees, and lending terms.

"We think that disclosure is the heart of good business practices and legal business practices," Dann said.

A number of college students face immense financial pressures-both before and after graduation. To begin with, the high cost of tuition, fees, and room and board have caused a number of students to take out student loans. Private loans can carry high interest rates, making them difficult to repay.

Following graduation, a number of students find themselves mired in student loan debt. As a result, they may delay marriage, children, or buying a house until they can get their student loan payments under control. Some universities are responding to the crisis by offering middle-income families grants and scholarships rather than loans, so there is no debt to repay after commencement.