Consumer credit focused on motor vehicles and college tuition
Tuesday, October 08, 2013 2:47 PM
Consumer borrowing rose more than projected in August as Americans took out more loans for motor vehicle purchases and education, Bloomberg Businessweek reported. The $13.6 billion increase in credit followed a $10.4 billion gain in July, according to the Federal Reserve. Non-revolving debt, which includes financing for college tuition and motor vehicles, climbed $14.5 billion.