College students & credit

A story from Newsweek that I recommend reading on the topic of college students and credit. What's interesting is the number of credit cards most college students have:

Half of college students have four or more cards, according to a 2009 Sallie Mae survey, and only 17 percent report regularly paying off their balance. As the school year begins, parts of 2009’s credit-card reform bill will finally begin to protect the young from their own spending habits. For starters, students will no longer see card issuers offering giveaways on campus. And for the first time, they won’t be able to sign up for a credit card if they’re younger than 21 unless they can find a cosigner or prove a source of income.

Personally I think the changes in the law make it harder for those who are 18, they are considered adults and the government should not treat them like second class citizens...