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Repayment Assistance Program

The Repayment Assistance Program (RAP) is designed to provide payment relief when all parties to the loan are facing financial hardship. Borrowers with eligible loans can enroll in RAP for up to two years (730 days). During the RAP period, a payment on eligible NJCLASS loans shall be reduced to 10% of the total of the household income of all of the parties to the loan that exceeds 150% of the federal poverty guideline for their family size, with a minimum monthly payment of $5 per eligible loan. Interest that accrues during the RAP period will be paid by HESAA. All other payments received during the RAP period shall be applied to reduce principal.

RAP is available for NJCLASS loans with applications that were received on or after June 1, 2017. NJCLASS loans applied for prior to June 1, 2017 that are used to attend school for academic terms that begin on or after August 1, 2017 are also eligible for RAP. Eligible loans include loans in interest-only repayment, or loans in principal and interest repayment. Loans that are deferred for both principal and interest payments are not eligible for RAP. Loans that have reached default status are also not eligible for this program. All parties to the loan must complete the application and provide the required documentation so that eligibility for the program can be evaluated. HESAA reserves the right to make a final determination on eligibility. Enrollment in RAP is subject to the availability of funds.

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