Student loans aren’t actually the biggest financial burden holding Millennials back.Instead, the Pew Research Center found that one-fourth of Millennials say their biggest source of debt is credit cards, 15% say their mortgage, and just 10% say student loans. A Northwestern Mutual study paints a bleak picture of Millennials’ financial knowledge when it comes to that credit card debt: roughly 22% don’t know what interest rate is being applied and 34% don’t know how much they’re spending each month out of their income on paying down their personal debt. (CNBC, Business Insider)
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