Schools today offer their students a wide selection of courses. From the three Rs to almost everything from computers to exotic foreign languages, students can select classes to enrich their lives. Unfortunately, most schools offer little or no guidance in enriching a student’s bank account—or at least in keeping the student out of debt.

Author Ed Murrell knows about the allure of “easy” credit. From early adulthood, he heard the siren call of credit card companies and soon found himself way over his head in debt. In Good Cent$, Murrell reaches out to young...