Student loan payments resume for millions of Americans

In New Jersey, the combined total owed on student loan debt is $44.8 billion, according to federal data. That’s an average of $36,423 per borrower. President Biden’s effort to forgive student loan debt was struck down by the U.S. Supreme Court, but his administration is still trying to find ways to help those with the biggest burdens.

Beverly Brown Ruggia, financial justice program director with New Jersey Citizen Action, said, “The burden that people have now, it’s so different than what it was 20, 30 years ago when it was possible to have a summer job and pay for college and even graduate school.” She said the smartest thing borrowers can do is know their options, and get on a payment plan quickly.

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