Credit card debt, interest rates among the inflation hitting people in their 20s hardest

Credit card debt and student loan repayment, and their interest rates, are being affected by inflation, which impacts many young adults in their 20s.

This age group also faces the challenges of college loan repayment and lower paying first jobs.Teacher Mayra Jaramillo and her husband are in their 20s and starting a family, but the Mooseheart, Ill. couple have found themselves in debt and struggling financially.

According to Nerd Wallet, 43% of credit card holders don't even know their interest rate. The average rate has soared to 17.3%, making paying down credit card bills more challenging. College loan repayments for people in their 20s add to that burden.

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