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. At that point, your lender may report the missed payment to the credit bureaus, which can significantly bring down your credit score. Pay As You Earn.
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