Tag: credit cards
Not all borrowing is bad. Someone with a low-rate mortgage of modest size on an appreciating house has a very valuable asset. And some retirees pay off their credit cards every month without breaking a sweat. But about four out of every 10 older U.S. households are falling into the trap of having too muc…
The pause in federal student loan payments during COVID has been a golden opportunity to chop down the debt. In March 2020, Congress stopped charging interest on the loans when it suspended the monthly payments. The moratorium is slated to continue through June. The zero-interest loan means inflation actually eroded the value of the debt,…
