Credit Card Debt Ticks Up in April
News from TheStreet.com:

NEW YORK (TheStreet) — Consumer credit card balances rose $ 6.3 billion in April, according to data from the Federal Reserve.

The rise was roughly in line with a prediction from Briefing.com for an increase in debt. Levels of credit card debt had been in contraction for more than two years, until October 2010 when consumer credit finally began a growth spurt. Previous data showed that total consumer credit rose $ 4.8 billion in March. Changes in consumer credit often predict future spending trends as well as the current state of consumer finances. Revolving debt levels include credit card balances while non-revolving debt includes auto and student loans. Non-revolving debt rose more than expected, but was consistent with a small uptick in April auto prices, said Mike Bratus, an associate economist at Moody’s Analytics. Bratus added that a larger impact on non-revolving credit is likely in May as a result …………… continues on TheStreet.com
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College, credit card debt ups self esteem
News from UPI.com:

COLUMBUS, Ohio, June 7 (UPI) — A study of college graduates ages 18-34 indicates the higher the college debt, the higher the self-esteem, except for the very wealthy, U.S. researchers say.

Rachel Dwyer and Randy Hodson of Ohio State University in Columbus, and Laura McCloud, an Ohio State graduate now at Pacific Lutheran University, say instead of feeling stressed by their college and credit card debt, many young adults feel empowered.

“Young people seem to view debt mostly in just positive terms rather than as a potential burden,” Dwyer says in a statement.

The study involved 3,079 young adults who participated in the National Longitudinal Survey of Youth that interviews the same nationally representative group every two years.

The researchers examined data on two types of debt: loans taken out to pay for college with — a mean of more than $ 6,500 — and total credit-card debt — a mean of $ 2,872.

The study, published in the journal Social Scienc…………… continues on UPI.com
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