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New Jersey Ranks 8th in the Nation for Student Debt in 2024, WalletHub Study Finds

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the staff of the Ridgewood blog

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.

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College Enrollment Down 2.9 Million Students, but Revenue up $15.2 Billion

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the staff of the Ridgewood blog

Ridgewood NJ, enrollment in US colleges and universities has sharply declined over the last decade, but does that mean schools are seeing less revenue from tuition? 

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WalletHub Study: New Jersey Ranks as the 5th Most Impacted by the End of Student Loan Payments Moratorium

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the staff of the Ridgewood blog

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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Student Debt Strike on the Table

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the staff of the Ridgewood blog

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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WalletHub Study: New Jersey Is 2023’s 10th State with the Most Student Debt

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the staff of the Ridgewood blog

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,

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The US Supreme Court Strikes Down President Biden’s Student Debt Forgiveness Plan

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the staff of the Ridgewood blog

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.

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Student loan forgiveness application website is live

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the staff of the Ridgewood blog

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.

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7 in 10 parents say education is worth going into debt

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the staff of the Ridgewood blog

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.

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Dartmouth College is Completely Eliminating Student Loans and Replacing them with “expanded scholarship grants”

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the staff of the Ridgewood blog

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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86% of Borrowers Took On Student Debt Because of BIDEN’S FORGIVENESS PLEDGE

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the staff of the Ridgewood blog

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.

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New Jersey Student Loan Borrowers to Receive More than $60 Million in Relief from Settlement with Navient Corp. in State’s Lawsuit Alleging Deceptive, Misleading Tactics

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the staff of the Ridgewood blog

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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NJ Attorney General Files Lawsuit Against Student Loan Servicing Giant Claiming it Targeted Student Borrowers with Deceptive, and Misleading Tactics

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the staff of the Ridgewood blog

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.

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10 Tips for Being a Smart Student Loan Borrower

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New Jersey Society of CPAs Develops Student Loan Checklist

the staff of the Ridgewood blog

Ridgewood NJ, With approximately $1.5 trillion in student loan debt in the United States as of the first quarter of 2019, according to the Federal Reserve Bank of New York, students and their parents need to more carefully understand loan terms and how to combat the rising cost of borrowing. As the New Jersey Society of Certified Public Accountants (NJCPA) looks to inform the public about making sound financial decisions, its Student Loan Task Force developed a borrower checklist.

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New Jersey Ranks 14th in the 2019’s States with the Most Student Debt

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the staff of the Ridgewood blog

Ridgewood NJ, With several candidates for the 2020 presidential election proposing the cancellation or refinancing of America’s massive student debt load, the personal-finance website WalletHub today released its report on 2019’s States with the Most and Least Student Debt as well as accompanying videos.

To determine the states that are friendliest toward student-loan debtors, WalletHub compared the 50 states and the District of Columbia across 12 key metrics. The data set ranges from average student debt to unemployment rate among the population aged 25 to 34 to share of students with past-due loan balances.   

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CPAs Agree U.S. Student Loan Debt is a Financial Crisis

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Student Loans Weapons of Mass Financial Destruction

the staff of the Ridgewood blog

ROSELAND NJ, More than 80 percent of 623 certified public accountants polled in June by the New Jersey Society of Certified Public Accountants (NJCPA) said they either “strongly agreed” or “somewhat agreed” that student loan debt at $1.6 trillion in the United States is a financial crisis. More than 75 percent of respondents considered student loan debt in New Jersey to be a “major problem.”

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