Federal student loan payments are about to be due for the first time in three years. Many borrowers will be juggling new debt payments on top of their loans.
If you actually click through the links, it’s 53% have “added a credit product” where that credit product is a bank credit card. Says nothing about their debt increasing.
So, 53% of a bunch of 20-somethings opened at least one credit card in a 3 year span when almost all commerce went online and the retail stores that remained stopped accepting cash.
Maybe there’s concerning data out there but this isn’t it.
Yeah I struggled to find anything in the article or linked citations that debt was added, only cards. There was a bit about mortgages and loans but I don’t know how that compares to normal YOY to know if it really means anything.
If you actually click through the links, it’s 53% have “added a credit product” where that credit product is a bank credit card. Says nothing about their debt increasing.
So, 53% of a bunch of 20-somethings opened at least one credit card in a 3 year span when almost all commerce went online and the retail stores that remained stopped accepting cash.
Maybe there’s concerning data out there but this isn’t it.
Gotta spin that narrative of irresponsible kids spending money recklessly tho
Yeah I struggled to find anything in the article or linked citations that debt was added, only cards. There was a bit about mortgages and loans but I don’t know how that compares to normal YOY to know if it really means anything.
A very telling omission.
It’s not just 20-somethings. I’m 50 and still have $53k in student loan debt.