Tips and Tricks to Manage Credit Card & Student Loan Debt

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If you have credit card debt and student loan debt, you’re not alone. Here are a few tips from the pros on how to manage these debts without getting overwhelmed.

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00:00If you have credit card debt and student loan debt, you're not alone.

00:03Here are a few tips from the pros on how to manage these debts without getting overwhelmed.

00:09NerdWallet suggests you start by revamping your budget,

00:12prioritize essentials like rent, utilities, and transportation, and cut back on the rest.

00:18The site also suggests you lower credit card interest rates and look for possible balance transfer options.

00:24Bank of America suggests you target one debt at a time,

00:27but don't forget to pay the minimum balance on each debt.

00:31The Consumer Financial Protection Bureau knows that you may be able to claim your student loan interest on your tax return.

00:37Depending on your income and tax filing status,

00:40you can claim up to $2,500 of the student loan interest you paid in any given year.

00:46The agency also knows that if you work for a government or nonprofit employer,

00:50your student loans may be eligible for public service loan forgiveness.

00:57The

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