A 4592
Requires Higher Education Student Assistance Authority to consider combined income of all cosigners on application for participation in New Jersey College Loans to Assist State Students (NJCLASS) Loan Program.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes the NJCLASS loan program to require the Higher Education Student Assistance Authority to consider the combined income of all cosigners when determining eligibility for students. Currently, the program may deny loans to students even if their parents’ combined income exceeds the minimum requirement if only one parent meets the criteria. This legislation aims to ensure a more equitable assessment of financial situations by factoring in the income of all potential cosigners.
Sponsors
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Primary sponsor
Carol Murphy
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