A Must Read for NJ Parents of College Students

✔️   Decisions during the student loan application process have lifelong implications

✔️   College Financial Depts will help students "fit" into loans

✔️   Its okay if you can't afford college.  Its okay to not attend college

If you’re the parent of a college student—or a student yourself—you know how overwhelming the student loan process can be.

In our family, we’ve navigated it twice, and it’s no walk in the park.

The journey often starts with a meeting with the college’s financial aid officer.

Their job is to explain the process, answer questions, and guide families through the maze of paperwork.

The first big step? Filling out the FAFSA (Free Application for Federal Student Aid).

This critical document determines a student’s financial need and eligibility for federal loans. It’s also the gateway to understanding how much federal aid, if any, is available.

After the FAFSA, the next challenge is choosing the right type of loan—federal or private.

For many families, it’s a mix of both. Once the applications are submitted, loan offers start rolling in, and students and parents must decide which ones to accept.

Here’s where it gets tricky: many people don’t fully understand what they’re signing up for.

The implications of these decisions can last a lifetime.

Student debt has become a hot topic, sparking national debates about loan forgiveness and systemic reform.

Consider this: according to WalletHub, New Jersey graduates pay an average of $209 per month toward student loans, ranking seventh in the nation for repayment amounts.

New Hampshire tops the list at $229 per month, while Mississippi graduates pay the least at $142.

Loan forgiveness has its advocates and critics.

While some see it as a solution, others argue it’s an unfair use of taxpayer money and doesn’t address the root causes of the problem.

What about holding schools accountable?

Here’s a thought: could colleges be sued for malpractice?

Financial aid officers often guide students toward these loans, but are they truly acting in students’ best interests?

If schools bore some responsibility, perhaps they’d think twice about steering unprepared students into overwhelming debt.

What do you think?

Should schools share the burden of accountability?

Or does the responsibility ultimately rest with the families?

One thing’s certain: the system needs reform, and families like ours deserve better guidance through this pivotal financial decision.