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NJ A4111
Bill
Status
4/4/2024
Primary Sponsor
Linda Carter
Click for details
AI Summary
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NJCLASS student loan borrowers who become parents are entitled to a 12-week deferment of both principal and interest payments
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Borrowers must submit proof of birth or adoption to the Higher Education Student Assistance Authority within 120 days of the child's birth or adoption
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The deferment period begins on the date the authority receives proof of birth or adoption and ends 12 weeks later
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No interest accrues on the loan during the 12-week deferment period
Legislative Description
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.
Appropriations
Last Action
Reported and Referred to Assembly Appropriations Committee
6/3/2024