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 Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill requires the New Jersey Higher Education Student Assistance Authority to offer a 12-week deferment of NJCLASS student loan payments to borrowers who become new parents. To receive this deferment, borrowers must provide proof of their child’s birth or adoption within 120 days of the event. During the deferment period, interest on the loan will not accrue, providing a temporary financial relief measure for new parents.
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