2009-2010 NJCLASS Interest Rates
NJCLASS Fixed Rate Loan Program:
Repayment Option 1 & 2: 7.62%*
Repayment Option 3: 7.92%*
Repayment Term 20 Years - Origination Fee of 2%
Graduate/Professional Fixed Rates:
Repayment Option 1 & 2: 7.72%*
Repayment Option 3: 8.02%*
Repayment Terms 25 Years - Origination Fee of 2%
Coming soon - July 2009!
NJCLASS Loan for Medical and Dental Student Rates
Repayment Option 1 & 2: 8.20%
Repayment Option 3: 8.50%
Repayment Terms 25 Years - Origination Fee of 2%
See www.hesaa.org/njclass for full loan terms and alternative repayment options.
Borrowers may qualify for Title IV assistance including grants, scholarships and federal loans. Federal Loans may provide students with more beneficial terms; and Consumers may obtain additional information concerning Federal financial assistance from the U.S. Department of Education's website.
* The loan’s annual interest rate will increase 0.75% beginning in the borrower’s 49th month of repaying the loan principal. HESAA reduces the interest rate during school and for the first 48 monthly payments of principal and interest. This reduction assists borrowers in repaying more principal during these early months when the loan balance is highest. The result is a lower overall cost to the borrower.