Contact Us
Make My Homepage

Student Loan Debt – Raising Awareness In Jersey

With more and more high school grads – and their families – taking out student loans to pay for college these days, an Assembly Committee has released a measure that would require educational brochures on college loan repayment schedules to be created and distributed to high school students.

Money
Flickr user 401K

“Many college-bound students and their families fail to realize how burdensome student loan debt can truly be” says Assemblywoman Annette Quijano, one of the prime sponsors of the bill, “until they receive their first repayment book after graduation, which often has monthly payments in the hundreds or even thousands of dollars – providing critical education before they sign loan documents can help students graduate without being mired in debt.”

The legislation would direct the state Higher Education Student Assistance Authority to create a document that will serve to educate high school students about college loan repayment schedules. The Authority would be required to post the document on its website and distribute it annually to public and nonpublic high schools.

The document would include examples of monthly and annual loan payments required for various types of student loans based on differing principal loan amounts and current interest rates, the time period it would take to fully repay those loans based on various monthly or annual payment installments, definitions of fixed rate loans, variable rate loans, and consolidation loans, and the consequences of defaulting on a student loan.

The sponsors of the measure point out this is especially necessary and timely after an annual report issued  a year ago by the U.S. Department of Education listed several New Jersey public colleges as among the most expensive in the nation. 

The legislation was approved by the Assembly Higher Education Committee, and now heads to the full Lower House for consideration.

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 points and 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 points, 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 with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, 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.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!