Being Upfront About Money
Does your student know how much spending money is available to him or her this semester? Have you discussed where this money will come from? Do you know what credit cards your student currently has? These are important conversations to have so that assumptions, poor choices and financial troubles don't take over.

Tips to Consider
Business Week offers "Tips for Staying Out of Debt" as well as "Tips Once You Are in Debt". Some sample tips include:

• Go for a card with an APR no higher than 15%.
• Don't have more than one or two major credit cards; it could hurt your credit score if you have too many.
• Try to pay more than the minimum.
• Pay the most on your card with the highest APR.
• Don't pay by phone; many credit companies charge up to $10 to process payments by phone.