As a college student, I admit I sometimes couldn’t resist the free T-shirt, teddy bear, blanket, and other merchandise that were offered by simply applying for a credit card at a football game or other campus activities. Other students were lured in the same way, too, and ended up using the cards frequently and getting into a mound of debt.

Those offers are going away, and although it many mean less free stuff, the government’s actions could save credit scores that sometimes are damaged in college. Legislation that took effect in late February forbids credit card issuers from offering merchandise on campus or at sporting events. It also requires people under 21 to have an adult co-signer or prove they earn enough income to pay the debt before receiving a new credit card.

It’s coming at the right time. Sallie Mae reports that half of college students had four or more credit cards, and the average balance grew to $3,173, the highest since it began the study in 1998. Students have an average of 4.6 credit cards, and only 17 percent said they paid off the cards each month, meaning that others are paying those hefty interest rates.

Suzanna Letchford, who now works as a professional organizer, remembers her first day of college and walking past a bunch of tents on campus set up by credit card companies. Each one had a sign-on gift like a blanket and a cooler for drinks, and a friendly worker to pull her in. She signed up for three credit cards that day and was approved for all of them.

“The problem is, I did not have a job yet, so I had no way to pay them off,” Letchford says. “And, I had never learned about the consequences.” Two years later, she had earned her associate’s degree but had more than $2,000 in debt. She ultimately defaulted on all of her cards, and she thinks that the new restrictions would have saved her a little bit.

Letchford says these steps would also have helped her out and could help out students now:

• Learn about credit and budgeting before opening a credit card account

• Get an organized system in place to manage your credit card records, whether they’re online or on paper

• Ask your parents for their tips on money and credit, if they haven’t already offered them to you

The government is making it a little bit easier to keep out of credit card debt, but a lot of it comes down to being smart about spending, too.

–Lori Johnston