Table of Contents
Foreword 5
Introduction 7
Chapter 1 How Should Teens Manage Debt?
1 The Government Should Help Young People Avoid Debt Liz Pulliam Weston 11
2 Parents Can Do a Better Job of Teaching Their Kids About Money Sheryl Nance-Nash 18
3 Teens Should Be Given Credit Cards at Age Sixteen Roger Fortuna Katie Escherich 23
4 Debit Cards or Prepaid Cards Are a Better Alternative than Credit Cards for Teens Nancy Trejos 29
5 Editorial: Higher Education Is Not a Bubble: The Stanford Daily 34
6 Borrowing for College Is No Longer a Good Investment Alan Nasser Kelly Norman 40
7 Student Loans Should Be Eligible for Discharge Through Bankruptcy Jennifer Epstein 50
8 Student Loans Should Not Be Eligible for Discharge Through Bankruptcy Alfred Edmond Jr. 56
Chapter 2 What Are the Best Ways to Manage Consumer Debt?
1 The Credit Card Reform Act Has Been Effective Jennifer Liberto 62
2 The Credit Card Reform Act Has Limitations Tony Mecia 67
3 The Government Should Place Restrictions on Payday Loans Ray Fisman 72
4 Restricting Payday Loans Can Hurt Consumers Todd Zywicki Astrid Arca 79
Chapter 3 Who Should Be Responsible for Paying Off Debt?
1 The US Government Must Raise the Debt Ceiling William Gale 86
2 The US Government Should Not Raise the Debt Ceiling Dewy Murdock 90
3 Parents Should Be Cautious in Paying Off Their Children's Debts Sarah Angle 97
4 Son, Can You Spare a Signature? Kids Co-Sign for Credit Strapped Parents Lyneka Little 103
Facts About Debt 109
Organizations to Contact 113
For Further Reading 121
Index 124
Picture Credits 130
