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NJ Experts Discuss Ways to Solve the Student Loan Debt Crisis

Most high school students have their sights set on attending a top college. Nearly 66 percent of high school graduates in America go on to further their education at colleges and universities. In doing so, tens of billions of dollars in tuition fees are spent every year, much of it paid for by the students and their parents. This leads to a problem that has been plaguing our country’s young adults for more than a decade: Student loan debt.

To discuss the most effective ways to tackle student loan debt, Steve Adubato, PhD., sat down with a panel of individuals for an episode of Caucus: New Jersey with Steve Adubato. The panel consisted of Roger J. Michaud, Senior VP and Director of College Savings at Franklin Templeton Investments; Dr. Nancy H. Blattner, President of Caldwell University; Jennifer Rodriguez, a graduate student at Rutgers University; and Kim Cole, Community Engagement Manager at Navicore Solutions.

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Student loan debt is one of the most divisive issues young adults across the country face. Adubato’s guests explained that there are a number of other concerns that must also be addressed in order to remedy this growing problem; these issues include the need for financial literacy courses at the high school level to help parents and students understand ways to pay for college.

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This video was made possible thanks to the New Jersey Education Association.

Michaud shed some light on just how serious the problem of student loan debt in the country really is.
“Student loan debt now exceeds 1.4 trillion dollars,” he stated. “On average, a college graduate today is leaving that university with over 30 thousand dollars in student loan debt.”

Michaud went on to explain that this has been a growing issue for more than a decade, and it will continue to grow until proper steps are taken to aid and educate students and their parents. Fortunately, schools across New Jersey, including Caldwell University, are taking proactive steps to do just that.

To learn more about this issue and how schools and organizations are working toward tackling the problem of student loan debt, check out this episode of Caucus: New Jersey with Steve Adubato.

For more stories that impact New Jersey residents, click over to our Hot Topics in NJ series.

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