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Due to routine maintenance, HESAA's e-Access Portal will not be available from 4:30 am until 7:30 am on Saturday, April 21. The rest of our website remains fully functional. We apologize for any inconvenience.

NJCLASS Loan Consolidation

The NJCLASS Consolidation Loan is designed to assist those borrowers with higher NJCLASS debt balances by providing a longer repayment term and lower monthly payments.  A consolidation loan may help make payments more manageable for some borrowers by combining several NJCLASS loans into one loan with one monthly payment.

 

Borrowers must have a minimum of two NJCLASS loans with an outstanding minimum balance of $30,000. NJCLASS Consolidation loans with balances less than $60,000 carry a 25-year repayment term. NJCLASS Consolidation loans with balances greater than $60,000 carry a 30-year repayment term. The interest rate on a NJCLASS Consolidation loan is fixed and is based on a weighted average of the underlying NJCLASS loans being consolidated minus 0.25%. Deferment and forbearance options are limited and require monthly interest payments. Consolidation loans are subject to available funding.

 

Borrowers, who would like to apply for a consolidation loan, should login to start the application process.

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