"Too much debt will have a cascading effect that will last for decades," Kantrowitz said. "When more of your income needs to go toward repaying loans, you're not going to save as much and you'll be less willing and able to borrow for other goals such as a home." That's an ever more common rough road for many graduates.
Given that fewer than 10% of the CEOs and CFOs in the financial-services industry are women, it’s not exactly news that there’s a gender chasm on the Wall Street. Research finds that not only do women have a more difficult time getting ahead on the Wall Street, they have an inordinately harder time getting past a misstep.
Job one, job two, and job three is to pay off high-rate credit card debt, says Michael Keeler, a certified financial planner at Las Vegas-based Peak Financial Solutions. That’s ever more important as the Federal Reserve is now marching at a steadier step in raising its core interest rate, which in turn sends credit card rates higher.