New Jersey Ranks 6th for Student Loan Costs
New Jersey borrowers face the sixth highest student loan payments in the nation at an average of two hundred forty six dollars per month. A recent study by WalletHub highlights significant payment variations across all fifty states.
New Jersey residents face the sixth highest student loan payments in the United States, averaging $246 per month. A WalletHub study ranked Vermont highest at $258 and Wyoming lowest at $160. Prolonged payoff timelines persist as national student loan debt totals $41.72 trillion across 42.6 million borrowers.
Chip Lupo, an analyst at WalletHub, said monthly payments vary widely across the country. Lupo noted that closing the gap requires higher monthly contributions under current federal rates.
