The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
Loans don’t have to be seen as a burden—they can be powerful tools for building wealth when used wisely. This blog explores how loans can help you achieve financial goals, the different types available, and real-life success stories.
Continue reading Building Financial Security Through Smart Loan Management
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Ridgewood NJ, the conclusion of the COVID-19 student loan payment pause has led to a significant rise in delinquencies among borrowers. According to the Federal Reserve Bank of New York, approximately 9.7 million student loan borrowers became past due on their payments following the expiration of the payment pause in September 2023.
Continue reading Over 9 Million Student Loan Borrowers Delinquent After Payment Pause Ends
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Ridgewood NJ, how do U.S. students compare with their peers around the world? Despite being one of the world’s leading economies, the United States continues to face challenges in education, particularly in math and science, according to international assessments. As new education policies loom under the incoming Trump administration, these results provide a backdrop for what changes may lie ahead.
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New Jersey has been ranked as having the 8th highest student debt in the United States for 2024, according to a recent study conducted by WalletHub. The personal finance website evaluated all 50 states and the District of Columbia, scoring each based on student-loan indebtedness and the availability of grants and student work opportunities.
Continue reading New Jersey Ranks 8th in the Nation for Student Debt in 2024, WalletHub Study Finds
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Continue reading College Enrollment Down 2.9 Million Students, but Revenue up $15.2 Billion
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Ridgewood NJ, with federal student loan interest having resumed on September 1 and payments required again starting in October, the personal-finance website WalletHub today released its report on the States Most Impacted by Student Loan Payments Moratorium Ending.
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Ridgewood NJ, while many borrowers are preparing to make payments on their student loans when they restart in October, others are ignoring their accounts and going on what has been labeled a “student debt strike.”
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Ridgewood NJ, with the average student loan debt reaching over $37,000 per borrower, the personal-finance website WalletHub today released its report on 2023’s States with the Most and Least Student Debt,
Continue reading WalletHub Study: New Jersey Is 2023’s 10th State with the Most Student Debt
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Ridgewood NJ, the US Supreme Court on Friday struck down President Biden’s student debt forgiveness plan, with the court’s six conservatives ruling the administration did not have the power to forgive loans.
Continue reading The US Supreme Court Strikes Down President Biden’s Student Debt Forgiveness Plan
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Ridgewood NJ, the Biden administration officially launched its student debt relief application on Monday, ending months of anticipation from millions of American borrowers. The debt forgiveness website, which was first released by the administration for beta testing on Friday, features what officials have argued is a relatively simple application process. President Biden announced his plan for student loan debt relief in August forgiving $10,000 in student loan debt for those making under $125,000 annually and $20,000 for Pell grant recipients.
Continue reading Student loan forgiveness application website is live
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Ridgewood NJ, with back-to-school sales-tax holidays starting up, the personal-finance website WalletHub today released its 2022 Back-to-School Report, which includes the results of a new nationwide survey of parents as well as picks for this year’s Best Credit Cards for Back-to-School Shopping.
Continue reading 7 in 10 parents say education is worth going into debt
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Ridgewood NJ, near the end of June , news broke from CNN that Dartmouth College is completely eliminating loans from their financial aid packages. They will be replacing all loans with “expanded scholarship grants”. This transition will prevent students from drowning in student debt after graduation.
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Ridgewood Nj, one of President Joe Biden’s most memorable campaign promises was his pledge to address the student debt crisis. And, in recent days, he seems to be inching closer to a deal that would forgive up to $10,000 in student debt per borrower, with a few exceptions.
Continue reading 86% of Borrowers Took On Student Debt Because of BIDEN’S FORGIVENESS PLEDGE
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Ridgewood NJ, Acting Attorney General Andrew J. Bruck and the Division of Consumer Affairs today announced that New Jersey student loan borrowers will receive over $60 million in relief from a settlement with Navient Corp. and its subsidiary Navient Solutions LLC (Navient) that resolves a 2020 lawsuit filed by the State against the student loan servicing giant. The State’s lawsuit alleged that Navient engaged in unconscionable commercial practices, deceptive conduct, and misrepresentations when servicing thousands of New Jersey consumers’ student loans over the past decade – boosting company profits at the expense of struggling borrowers.
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Trenton NJ, Attorney General Gurbir S. Grewal and the Division of Consumer Affairs announced today that the State has filed a lawsuit against Navient Corp. and Navient Solutions LLC (“Navient”) alleging the student loan servicer engaged in unconscionable commercial practices, deceptive conduct, and misrepresentations when servicing thousands of New Jersey consumers’ student loans.
