I understand the frustration that many parents feel with credit card companies soliciting their college-age sons or daughters and charging high interest rates. Many folks have gotten into serious financial trouble with credit cards, and I admire parents who try help their children behave more responsibly.

There is a national epidemic of students running up credit card debt when they have little, if any, annual income. One recent report found that one-fifth of the nation's college students carry credit card debt of more than $10,000. While many college students are adults who are responsible for the debt they charge, the credit card industry's policy of extending high lines of credit to unemployed or underemployed students should be examined.

To help put a stop to this, I have cosponsored the College Student Credit Card Protection Act, H.R. 3142. It would require credit card companies to figure out if an applicant can afford to pay off his or her credit card balance before the credit application is approved. Additionally, this bill would:

• limit credit lines to 20% of a student's annual income if he or she doesn't have a co-signer;
• permit students to receive a starter credit card with a lower credit limit that can be increased over time if payments have been made;
• eliminate the fine print in credit card agreements and advertisements that hide fees and penalties; and
• require parents to agree in writing to increases on the credit limit on any cards which they have co-signed.