Jersey Colleges Ain’t Cheap: Jersey Makes List Of Top 20 States With Most College Debt
Raise your hand if you still have student loan debt.
In case you're wondering, my hand is raised. I can't speak for anyone else, but for those of us out here who didn't get any help from mommy and daddy with college payments, life's a bit more difficult for us compared to those of you who got some help from the parents occasionally. For one, we didn't graduate with a clean slate like you did. Also, if you only graduated with, say, $15k worth of student loan debt. That's a car payment, not $50k+ like some of us are having to pay back.
Now, before you start with the argument that's complete with the narrative of us having to lie in the bed we made regarding what schools we chose, what careers we went into, or whatever defense you'll present, it doesn't change the fact that life would be a lot easier if folks like us who are STILL trying to pay off student loan debt into our late 20s/early 30s had the help you did when you were in school. Unfortunately, not every family has the luxury to hand out the Benjamins like that.
According to a new study, students in New Jersey are graduating with some of the highest student loan debt in the country. In fact, Jersey cracks the list of the states with the most college debt at number 17. Number one on the list has the most college debt (which happens to be West Virginia). Jersey is 17.
Of course we made it close to the top of this list, albeit not a good thing, because everything in Jersey is so dang expensive! Here's the thing about Jersey, though: while we have our debt streaming from our ears, we're actually paying it off. Even though we've got a lot of debt, we've got one of the lowest rates in the country for defaulting. What's that mean? It means that students are paying their debts. That's great news because eventually, not paying off those student loans will catch up with your credit and can seriously get in the way of future plans.
The best thing we can do is prepare the younger generation for what student loans actually mean and how they translate to the quality of life they'll have in their future. Save, save, save! The more you save during your teen years to help yourself with school, the better off you'll be.... especially in Jersey.