I wonder what the drivers are and how long it will last?🙂
It seems that while student loans and auto loans increased, Credit Card debt decreased. Perhaps consumers are being more responsible or perhaps due to the higher employment - income numbers folks are paying down their debt. There are a lot of perhaps, but given the amount of personal and government debt, I consider this to be good news.
The increase in Student Loans could be worrisome, there are already plenty of unemployed Graduates still with unpaid Student Loans.
Yeah, I have one living in my basement...she can't figure out why a 2.05 GPA with a communications major didn't land her a high-paying job?!? I've been telling her since she was a freshman in HS, "work hard now, it'll determine the trajectory of your whole adult life".