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October 25, 2013

New Jersey students carry more than the national average when it comes to student loan debt, according to the most recent NJPIRG Law & Policy Center report, outlining the problems students face when obtaining loans for college. The national average is $24,802 while New Jersey’s average is $25,700.

NJPIRG found that in the state – and nationally – the lender with the most complaints was Sallie Mae, which dominates the national market with a 50 percent share. Second to Sallie Mae in New Jersey was the New Jersey Higher Education Student Assistance Authority. New Jersey had one of the highest rates of complaints in the nation, at more than 15 complaints per 100,000 student borrowers. In general, the Northeast saw the most complaints.

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