Paying down student loans and credit card debt

Paying down student loans and credit card debt



For the last three years, federal student loan borrowers have had a pause in payments, until they restarted this month. At the same time, consumers are carrying more credit card debt with record high interest and fees.

“We’re at about a 45 percent increase in the number of people that are reaching out for assistance with their debt. And then of those folks, we’re seeing a 26 percent increase in the level of unsecured debt that they’re carrying,” said Thomas Nitzsche, a financial educator with Money Management International (MMI), a non-profit credit counseling service.

More people with more debt is concerning to Nitzsche, especially now.

https://www.wmar2news.com/matterformallory/borrowers-having-to-balance-paying-down-credit-cards-and-student-loans

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