Contact Us
Make My Homepage

NJ Ranks 9th in Student Loan Complaints [AUDIO]

The federal student loan giant, Sallie Mae, and the New Jersey Higher Education Student Assistance Authority were one and two in the state for the most number of complaints about student loans.

Student loans
Zephyr Picture, Getty Images

The New Jersey Public Interest Research Group crunched the numbers, based on complaints about how lenders treated borrowers to the Federal Consumer Financial Protection Bureau.

Sallie Mae generated 81 complaints in New Jersey and 46 percent of the complaints nationally.

NJPIRG’s Jen Coleman says the Consumer Financial Protection Bureau can be a big help for borrowers, “because it is able to level the playing field, so that they don’t have to feel like they are at the mercy of their student lenders.”

Coleman says 65 percent of the complaints had to do with loan repayment. Issues with fees, billing, deferment, forbearance, fraud and credit reporting accounted for most of the complaints.

New Jersey ranked 9th nationally in how likely borrowers in the state were to complain about their student loans.

Student loan problems and student loan debt remain a big issue. The collective national debt from unpaid and delinquent student loans across the country is now estimated to be well over a trillion dollars and growing.

Check out the full report.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.