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Bill > A4809
NJ A4809
NJ A4809Directs Higher Education Student Assistance Authority to grant deferment of New Jersey College Loans to Assist State Students (NJCLASS) student loan payments to new parent.
summary
Introduced
12/10/2018
12/10/2018
In Committee
12/10/2018
12/10/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill provides that in the event that an eligible student borrower under the NJCLASS Loan Program becomes a parent, the Higher Education Student Assistance Authority will be required to grant a deferment of payment of loan principal and interest for a period of 12 weeks. To qualify for the loan deferment, the student borrower must provide the authority with proof of the child's birth or adoption within 120 days of the birth or adoption. The bill provides that the deferment will begin on the date that the student borrower's proof of the child's birth or adoption is received by the authority and will end 12 weeks after that date. Interest on the loan will not accrue during the period of deferment.
AI Summary
This bill provides a 12-week deferment on payments for NJCLASS student loans to eligible borrowers who become parents. To qualify, the borrower must provide proof of the child's birth or adoption to the Higher Education Student Assistance Authority within 120 days. The deferment period begins when the authority receives the proof and ends 12 weeks later, with no interest accruing during that time.
Committee Categories
Education
Sponsors (2)
Last Action
Introduced, Referred to Assembly Higher Education Committee (on 12/10/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/A5000/4809_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A5000/4809_I1.PDF |
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