More students in the Garden State are graduating with exceptionally high levels of student loan debt. New Jersey students are shown to have more debt than others across the nation.
According to a report by the Project on Student Loan Debt, more than two-thirds of the nation’s college graduates leave school with $26,600 in debt. In New Jersey, this number is higher at $27,600. More alarming is the fact that this threshold number continues to rise; it’s already $4,000 higher than it was for New Jersey graduates in 2010.
A Washington D.C. policy group, the Institute for College Access and Success, manages the project. According to the most recent report by the project, the state of New Jersey is ranked tenth in the nation for student loan debt. With the rising levels of student loan debt in New Jersey over the past few years, it is unlikely that this ranking will decrease. We can expect more students will be at risk of graduating while owing crushing debt burdens.
The same report showed that New Jersey has three out of the top 20 universities with the highest number of indebted graduates. These universities include Rowan University, the College of New Jersey, and the Richard Stockton College of New Jersey.
Of particular importance are the troubles that college graduates are seeing with private student loans. Many students with private loans face struggles similar to those of homeowners who are not able to pay their mortgage. Still, some students have been forced to take out a private loan to supplement their federal or state student loans. The concurrent burdens of bills from multiple lenders can make it very difficult to pay back loans after graduation.
If you live in New Jersey and are struggling with payment on federal student loan debt, I may be able to be of assistance. Just download this questionnaire, fill it out, and then fax it to me at 856-686-9911 or e-mail it to me. I will then review it to determine if I can be of assistance and contact you to discuss representation.