This is an important issue for all college students. The rising cost of tuition, fees, books and supplies has led to a major increase in student loan borrowing as well as credit card use.
If you use credit or debit cards to supplement your costs or living expenses you will have an additional financial burden while repaying your student loans. We encourage you to borrow sensibly and prepare a monthly budget to calculate your expenses and salary before you use that credit or debit card.
If you need further assistance, contact your lender for Loan Consolidation and
Debt Management information.
New Jersey Higher Education Assistance Authority
Debt Counselors Of America
National Foundation for Consumer Credit
Options for Resolving Student Loan Default
1. Payment in Full
2. Repayment arrangements
3. Loan consolidation
4. Loan rehabilitation
Contact your lender for further information. Don’t know who your lender is? Go to the National Student Loan Data System (NSLDS) Student Access website at www.nslds.ed.gov to learn the current holder or guarantor.