Credit card debt at record high after pandemic spending

Americans got used to spending big during the pandemic. Now they're running out of money and racking up record credit card debt.

Just take a look at how much credit card debt everyone is accruing. Consumer loans, made up

, nearly 8% of student loan borrowers are behind on other payments, a higher percentage than pre-pandemic times. This may worsen once the moratorium on payments is lifted in September.

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