Secrets were kept on all sides. “There are a lot of really rich people here but everyone’s ashamed of it. I think there’s an overall anti-consumption vibe at Harvard—people don’t drive SUVs around, [but] they consume $4 hot chocolates,” the 2000 graduate says. He remembers awkward moments with friends who had more money to spend than he did. “My friend John went snowboarding every weekend and he just wouldn’t believe me that I didn’t have an extra $200.”

The student took a year off between sophomore and junior year, and “bought the cheapest condominium I could find in Cambridge. I owned it for five years before I sold it and I ended up making $100,000.” With the money he earned he managed to pay off his credit card debts, but he admits his story is atypical. “Other people weren’t as lucky as me. They had to get jobs and pay off their bills. Most of the people I knew who ran up credit card debts were financial aid kids who were trying to keep up socially.”

Credit cards may be dangerous, but they are also a necessity for some students.

“I definitely have a credit card, because sometimes I don’t have enough money to pay for books up front so you have to pay it off over time,” says Munster, who says he has different credit cards for different purposes but is not afraid of debt.

“I use my credit card like cash—if I don’t know I’ll get that money at the end of the month, I’ll find another way,” he says. “I’m not going to get caught in that trap. It’s just stupid.”