Close Business News: Americans borrowing more money Business News Jeremy Kyle , KYTX 3:30 AM. CDT August 08, 2013 CONNECT TWEET LINKEDIN GOOGLE+ PINTEREST (CBS) - In Business News, consumers are borrowing more money, but not on credit cards. The Federal Reserve says Americans borrowed more than $2.8 trillion dollars in June, which is the highest ever. Much of the money was in loans for homes, cars and college tuition. At the same time americans cut their credit card debt by 2 point 7 billion dollars. (CBS) - Younger adults are buying fewer cars. Automakers say the percentage of 18 to 34 year olds buying cars has dropped more than 2 percent over the past five years. Circumstance and affordability are two theories behind the reason. The auto industry believes those numbers will improve as the economy gets better. (CBS) - A new report finds most American students also work. The survey from Citigroup found four out of five high school and college students have jobs. The average student works 19 hours a week during the school year. Nearly half of college kids say they need the money to pay for books and other school expenses. 18 percent also pay their own tuition. CONNECT TWEET LINKEDIN GOOGLE+ PINTEREST JOIN THE CONVERSATION To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Leave a Comment TRENDING VIDEOS 1 dead, 1 injured after boat accident Minimalist Movement Union Grove homicide investigation Southside Bank rebranding Video shows truck swerving before deadly church bus crash Therapy dogs visit Tyler accountants Angelica Beard's funeral KYTX Breaking News Lindale ISD repairs holes in fence after child escapes WFAA Breaking News More Stories 2nd annual East Texas Giving Day: April 25 Apr 24, 2017, 7:15 p.m. Second Lake Palestine boat crash victim dies Apr 25, 2017, 3:37 p.m. Arkansas missing child located in Franklin County Apr 25, 2017, 2:45 p.m.