Debt is smothering college students across America and Illinois Comptroller Daniel Hynes is looking to do something about it.

“Think before you sign up for a credit card, think twice before using it,” Hynes said during a visit to NIU’s campus Monday afternoon.

Hynes met with NIU President John Peters, students and school officials to discuss a solution to accommodate overwhelming credit card debts incurred by college students.

According to recent studies by Nellie Mae, a higher-education loan provider, consumers have amassed $700 billion in credit card debt.

This has prompted Hynes to take action.

“In Illinois, 70 percent of college students between the ages of 18 and 25 own at least three credit cards with an accumulated debt of $1,700 or more,” Hynes said.

Hynes understands that college students are being targeted to sign up for credit cards with enticing incentives, but maintains that students need to be responsible.

“Students need to understand the consequences of credit card debt,” Hynes said. “The debt won’t just go away.”

Four out of five students are using credit cards, Hynes said. This increase in credit card use has led to students’ demise, causing them to drop out of school, file for bankruptcy or take out personal and student loans.

Are restrictions on marketers and credit card providers necessary?

Four weeks ago, the College of Lake County passed a mandate which prohibits marketers from coming on the campus.

Hynes believes that this should be seen positive but “it’s too early to say,” Hynes said.

He said that education is necessary to deter the current trend of rampant credit card spending.

During Monday’s meeting, Hynes stressed that students need to be informed of the long-term problems of credit card debt. Hynes praises the UNIV 101 course offered at NIU, an introductory look to campus life, calling it “necessary.”

“NIU is the only school I have seen to offer freshmen the UNIV 101 college credit class which educates the students about the responsibilities of credit cards and the danger of using them,” Hynes said. “We need to get other colleges to do the same.”

Hynes and his staff have gone to a number of colleges in Illinois such as Western Illinois University, Illinois State University, Southern Illinois University, Eastern Illinois University and Bradley University to increase awareness and education among students.

Students need to learn to keep spending within their means, Hynes stressed.

“It is my purpose to get students to acknowledge that they might not have sufficient incomes to handle a credit card bill every month,” Hynes said. “I want students to understand the consequences today, not ignore them.”

Jesse Perez, Student Association chief of staff and a senior OMIS major, appreciated Hynes’ visit.

“Having Mr. Hynes here was a great benefit to the students and faculty of NIU,” Perez said. “Hynes wants students to stop ignoring debt until it’s too late.”

Ken Zehnder, assistant director of state and federal relations, hailed Hynes’ efforts.

“Hynes is addressing important issues and is recognizing students who are now entering financial accountability,” Zehnder said. “He should be commended for his efforts.”

Nikki Budzinski, two-year staff assistant at the comptrollers office, said that Hynes wants to help students.

“Mr. Hynes is dedicated to resolving this issue, and is willing to hear from the students,” Budzinski said. “He wants to see what he can do to help the students.”