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  • NJ A4239
  • Revises New Jersey College Loans to Assist State Students Loan Program to require applicants first exhaust federal student loans, require income verification, and limit total student loan amounts.
Introduced
(10/7/2016)
In Committee
(1/12/2017)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill makes three changes to the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program. First, it requires that the Higher Education Student Assistance Authority (HESAA) verify the financial information reported by a borrower or cosigner on an NJCLASS loan application. Second, it mandates that a student borrower, prior to receiving an NJCLASS loan, borrows the maximum amount available to the student under the federal Direct Subsidized and federal Direct Unsubsidized loan programs. Last, it provides that a student borrower's total loans under NJCLASS may not exceed $200,000.
2nd Reading in the Assembly, Substituted by another Bill
Substituted by S2578 (2R)  (on 6/8/2017)
 
 

Date Chamber Action Description
6/8/2017 A Substituted by S2578 (2R)
1/12/2017 A Reported out of Assembly Comm. with Amendments, 2nd Reading
1/12/2017 Assembly Higher Education Hearing (10:00 1/12/2017 Committee Room 15, 4th Floor)
10/7/2016 A Introduced, Referred to Assembly Higher Education Committee
Date Motion Yea Nay Other
Detail 1/12/2017 Assembly Higher Education Committee: Reported with Amendments 9 0 0