Anecdotally speaking, I'd have to disagree with the authors conclusion here. Most of my college-aged friends (many of which are from the University of Delaware,

Anecdotally speaking, I'd have to disagree with the authors conclusion here. Most of my college-aged friends (many of which are from the University of Delaware, the same school the author goes to) rely solely on their credit cards; the only ones I can think of who don't are those who get paid mostly in cash (waiters/waitresses, bartenders, under-the-table short term jobs, etc). Hell, most of my friends think I'm weird for using cash as much as possible; few even carry cash these days. Personally, I'd say that, while plenty of college-age millennials still rack of credit card debt, a lot of us also had the idea of "Always pay off the entire monthly amount on your card" beaten into us by our parents and by seeing the effects of the recession. We might not be "financially literate" yet (god knows I'm still learning) but we at least know that.