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Over half of student loan borrowers racked up credit card debt during the payment pause—now experts worry about ‘shock’

Collection Industry News

AUGUST 6, 2023

Over 50% of borrowers added debt on regular credit cards during the student loan payment pause and another 31% racked up balances on retail cards, a recent TransUnion analysis found. Many will have to work to get out of credit card debt at the same time. From October 2023 through Sept.

Student loans 40
Student loans Student Loans Credit Card Debt Loans 40
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Lawmakers take aim at credit card interest rates, fees as cardholder debt tops $1 trillion

Collection Industry News

OCTOBER 17, 2023

Some lawmakers and regulators are calling for interest rate caps and lower fees on credit cards as debt levels march higher. Total credit card debt topped $1 trillion in the second quarter of 2023 for the first time ever. Your debt can drag on for decades.”

Credit Unions 40
Credit Unions Credit Unions Accrued Interest Credit Card Debt 40
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