Credit cards, quick and convenient, have grown tremendously in popularity and usage since their introduction in the 1920's. When used properly, credit cards can help consumers establish a good credit history and build a foundation for obtaining future loans for housing and automobiles. When misused, credit cards land consumers into an endless cycle of debt, ruining their ability to obtain a home, a car, or even a job. Society is also affected by high debt when hopeless debtors commit suicide to escape financial burdens. Many college students are learning this lesson the hard way, receiving an unexpected crash course in financial crisis management.How can this problem be rectified? There is no real method to control other people's financial choices and nor should there be. However, some solutions, including stricter credit card solicitation regulations and increased student educational programs, are offered as choices in this paper. In order to support these proposals, national credit card debt statistics are evaluated for trends. The relationship between students' lack of credit savvy and the prevalence of students in debt is also analyzed. In addition, current state and university-level credit card solicitation regulations are examined for adequacy. An extensive credit management section offering tips on using credit wisely, understanding credit scores, and finding a legal way out of debt trouble is included.