Americans added $1.13 trillion to their credit cards and aggregate household debt balances increased by $212 billion. The average interest rate on a given credit card is now about 21.5%, the highest since the Federal Reserve began tracking rates in 1994.
Most companies offer promotional rates and ways to transfer your balances to low- or no-interest (0%) cards, at least for the first year. The public service loan forgiveness program is one of several avenues of relief still available to many people with student debt.