Student Loan Solution by David Carlson

Author:David Carlson [Carlson, David]
Language: eng
Format: epub
ISBN: 9781633538993
Publisher: Mango Media
Published: 2019-03-05T16:08:42+00:00

Student Loans Aren’t the Only Debt

I’ve read thousands of personal finance blog posts over the years, and one thing that has frustrated me at times is the lack of attention student loans receive. That’s changed a bit recently, as the number of people with student loans and the average amount of student loan debt has risen.

More recently, I’ve been disappointed with the lack of coverage and attention that credit card and other debt has received. Despite student loan debt surpassing credit card debt, there are still many who struggle with it. It can be even more debilitating than student loans because of how high the interest rate is.

While credit card debt has one advantage over student loan debt because it can be discharged in bankruptcy,46 bankruptcy is something that should be avoided whenever possible. Credit card debt often has much higher interest rates, typically more than 20 percent, so paying it off should be a top priority.

Some actions you should consider taking if you are in credit card debt:

•Apply for a 0 Percent APR Transfer Credit Card

There are a number of credit cards out there that allow you to transfer your balance and pay no interest on it for a period of time, typically twelve or more months. This is a good option if you can fully pay off the balance in the period of time. For example, if you transfer $5,000 of credit card debt to a 0 percent APR card, you will want to make sure you can afford approximately $417/month in payments.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.