Directs Higher Education Student Assistance Authority to grant deferment of New Jersey College Loans to Assist State Students (NJCLASS) student loan payments to new parent.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill would allow New Jersey College Loans to Assist State Students (NJCLASS) borrowers who become new parents to temporarily defer their loan payments. To qualify, borrowers must provide proof of their child’s birth or adoption within 120 days of the event. During the 12-week deferment period, interest on the loan will not accrue, providing a short-term financial relief option for new parents.
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