How Much Do NJ College Kids Pay In Student Loans? A Lot…
It was certainly a blow to college graduates everywhere currently still dealing with student loans hanging over their heads to hear that no forgiveness will be disbursed in the foreseeable future.
President Joe Biden tried by trying to get legislations passed that would allow from $10,000 to $20,000 to be forgiven for those who make below $125,000 per year. Since most people make nowhere near that, people were pretty excited at the possibility.
Multiple sources report that, on average, most students are graduating with over $30,000+ worth of student loan debt. That's more than most people are putting in for a down payment on a house! Considering the fact that average starting salaries haven't increased to coincide with the cost of living increases very much over the last few decades, it can take people well into their 40s, if not 50s, to crawl out of that hole.
So, just how much debt are the students here in New Jersey having to pay back? Well, considering Jersey comes in as the 10th worst state for student loan debt in the country, it's safe to say most NJ residents are pretty bummed over the news that none of their student loans are likely to be forgiven.
A survey has taken a look at all the states within the U.S. and ranked them based on how much student loan debt residents are currently paying off. At the very least, a lot of students here in Jersey have work opportunities here at the various colleges and universities within the Garden State. That means they have the opportunity to make a little bit of money to offset school costs. Most students, however, work jobs outside of their college or university to help pay bills while working on their degrees.
You can check out the metrics and see why Jersey's pretty high on the list for significant student loan debt HERE.