A Quote by Mikie Sherrill
The burden of student loan debt weighs heavily on both students and families across New Jersey.
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The most important loan to pay is your student loan. It's more important than your mortgage, car and credit card payments. You cannot discharge student loan debt in the majority of cases.
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist before - private for-profit universities that sell junk degrees that don't help the students. They promise the students, "We'll help you get a better job. We'll arrange a loan so that you don't have to pay a penny for this education." Their pet bank gets them the government-guaranteed loan, and the student may get the junk degree, but doesn't get a job, so they don't pay the loan.
As our nation's student debt crisis has reached a breaking point, we've been hearing lots of talk about student loan forgiveness. It's taken me 20 years to forgive myself for my loan - and just as long to pay it off.
Learn how to prioritize all your debt. And did you know student loan debt is the most dangerous debt any of us can have?
I strongly support extending current student loan interest rates and increasing the college tuition tax credit for students and their families.
More than ever, a college diploma unlocks economic opportunity, provides students with a wealth of new skills and knowledge, and encourages innovation and growth. But more than ever, it also comes with a mountain of student loan debt.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
Unfortunately, this will have a ripple effect in the economy. People carrying heavy student-loan debt won't buy houses, start families, or start businesses. This will hurt the future economy.
New Jersey is very big. There are different areas of New Jersey. There is North New Jersey. There is like the center. There are a lot of actors from New Jersey that don't speak with a New Jersey accent.
A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.
Rising student-loan debt is an economic emergency.
Students can spend their money better than government can. It should not require a federal loan and decades of debt for students to get a college degree. Price limits access - plain and simple.
There are essential elements for our public schools to fully develop the potential of both students and educators. They should be centers of community, where students, families and educators work together to support student success. They should foster collaboration.
People internalize, from the jail to student loan debt, to credit card debt, to unemployment to the whole collective. It manifests itself in many ways, in people's home lives, domestic stuff.
First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.
Remember that in most cases, student loan debt is not dischargeable in bankruptcy. So you continue to pay it off anyway. Those who have very low interest rates (2-2.5 percent) on student loans and know everything is secure, great.
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