Jack took a spring break trip and accumulated $2700 in expenses on his new credit card. He is in no position to pay off his debt and he has been paying the $120 minimum payment each month and the card has a 21% APR interest rate. Although he has barely used his card his balance seems to be growing out of control. On top of the credit card, Jacks student loans are coming due. He had 4 different federal student loans over the course of his undergraduate year, all at different interest rates. He is considering taking graduate classes as one option to defer payment of his student loans.

What advice do you have for Jack regarding his credit card debt?

What advice do you have for Jack regarding his student loans?