Student loan debt is now the second highest consumer debt category (behind only mortgage debt - and higher than both credit cards and auto loans). The price of education has increased faster than both inflation and wage growth. New Jersey has a total outstanding student loan debt of $41.67 billion. Nearly two-thirds of students in the Garden State have student loans with the average borrower carrying more than $30,000 in debt.
Even older borrowers are feeling the weight of student loan debt. According to the Government Accountability Office, borrowers age 65 and older are defaulting at higher rates than their younger counterparts and more than 80 percent of the debt borne by older consumers was for their own education rather than for a child.
However, the trend does not have to continue. By sharing your personal story, you can help to influence public policy and shape legislation around the student loan debt crisis. Join New Jersey Citizen Action and share your story!
**Personal Information: Please note, if given consent, NJCA will only share your name and county with your story. Your phone number and e-mail address is strictly so that NJCA can follow up with you if you have an interesting story.