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Quote by Suze Orman

“If you have credit card debt and credit card companies continue to close down the cards, what are you going to do? What are you going to do if they raise your interest rates to 32 percent? That's five times higher than what your kid is going to pay in interest on a student loan. Get rid of your credit card debt.”

Quote by Suze Orman

Author

Suze Orman, born on June 5, 1951, is a renowned personal finance expert, author, and television personality. She is known for her straightforward and practical financial advice and for hosting the television show 'The Suze Orman Show'. more

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“Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.”

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“But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.”

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