The NJCLASS Grad/Professional Loan is available only to students enrolled in programs leading to either a Master's or Doctorate degree. Other students may be eligible to apply for a NJCLASS Xpress Loan.
We recommend using Internet Explorer 9.0+ to complete the application.
You will need Adobe Acrobat Reader 8.0+.
Please turn pop-up blocking software OFF.
When you have completed the online pre-approval application, you can e-sign the documents.
HESAA has enhanced the security features of the Grad/Professional loan application. The applicant will need to establish their own user-id and password to:
Access and complete the Grad/Professional loan application;
Authorize NJCLASS to obtain your consumer credit report;
Confirm your identity;
Select your signature option (Electronic or Print and Sign in Ink)
Following disbursement of the loan, online access is available for:
Monitoring billing and payment statuses
Tracking delinquencies and any past due amounts
Making online payments
Obtaining copies of documents, such as the student loan interest deduction (Form 1098E)
Am I eligible for the NJCLASS Graduate/Professional Fixed Rate Loan?
In order to apply for the NJCLASS Graduate/Professional Fixed Rate Loan, you must meet certain criteria. Guidelines for eligibility
are listed below. Approval is based on creditworthiness and ability to repay the loan, not on financial need.
Borrowers must
Be a graduate or professional student as certified by the school.
Be enrolled at least half-time in a Graduate / Professional Degree Program.
Be making satisfactory academic progress, as defined by the school.
Be a New Jersey resident attending an approved school (in or out-of-state) or an out-of-state resident enrolled in an approved NJ-based school.
Not be delinquent on any existing NJCLASS Loans or have a Federal or State loan in default status.
File all financial aid information required by the school to determine all available Federal loan eligibility before applying for the NJCLASS Graduate / Professional Fixed Rate Loan.
Not have reached the NJCLASS aggregate loan limit, if applicable.
If you meet the above criteria, you may apply for the NJCLASS Graduate/Professional Fixed Rate Loan!
What do I need to fill out the NJCLASS Loan application?
In order to complete the application for a NJCLASS Loan, you will need the following information:
Social Security Number
Alien Registration Number, if applicable
Total Annual Income (you need not disclose alimony, child support, public assistance aid, etc. if not using it as a basis for repayment).
Employer name, address and telephone number, if applicable
Driver's License Number
E-mail address
2 personal references (name, address and telephone number). References must be adult U.S. residents who each reside at a different address.
Amount of the loan that is being requested.
Cost of Attendance.
Amount of financial aid you are receiving.
Borrowers may apply for a loan up to the cost of attendance, less any financial aid. The cost of attendance (which is determined by the school) includes tuition, fees, room and board, and other educational expenses. Please contact your school's financial aid office if you have any questions about the maximum amount for which you may apply. The minimum amount for a NJCLASS loan is $500.
Required Settings and Software
You will need to have cookies and javascript enabled on your browser.
You will need to print and sign the completed self-certification form, NJCLASS application, and promissory note. In order to print, you will need to have Adobe Acrobat Reader version 8.0 or greater. If you do not have it installed on your computer, you can download it from Adobe's site for free.
Pop-up blocking software must be OFF in order to print your application (to launch the PDF window)
Borrower Rights & Responsibilities
Once your eligibility for the loan is finalized through the school's certification, a loan offer disclosure will be sent to you. The loan offer must be accepted within 30 days to continue with the loan process. A predisbursement disclosure statement will be sent prior to funding. There is a 3-day right to rescind period that must expire before the loan is funded.
If the school the student attends participates in electronic funds transfer (EFT), funds will be disbursed directly to the institution and credited to the student's account. Accepting EFT payments to the student account indicates his/her acceptance of the terms and conditions of the loan.
The borrower has the right to pay in full or pay more than the required installment amount at any time without penalty. The borrower has the right to examine or receive a copy of the state laws and regulations that govern the NJCLASS Program. The borrower has the right to cancel any portion of the loan within 60 days from the date of disbursement. Borrowers should have the school return funds on their behalf. Any monies returned within 60 days of disbursement will have the administrative fee and accrued interest credited to the loan balance.
The administrative fee, currently up to 3% deducted from the proceeds of the loan. The borrower must repay the principal and pay the interest under the terms and conditions specified on the Promissory Note. The borrower must notify HESAA promptly, in writing, if any of the following events occur before the loan is repaid:
The student fails to enroll in the school chosen for the period for which the NJCLASS loan was intended.
The student withdraws or begins attending less than half time.
The student graduates or changes their anticipated graduation date.
The borrower changes his/her name, address, or employer.
The borrower must use the proceeds that he/she receives from the NJCLASS loan for tuition and other reasonable and authorized educational expenses - including room and board, fees, books, supplies, equipment, laboratory expenses and for transportation and commuting costs incurred to attend the school chosen for the academic period indicated on the NJCLASS Loan Application.
Privacy Act Notice
Disclosure of your Social Security Number
(SSN) is required to participate in the NJCLASS Program. The authority
for collecting the requested information from and about you is N.J.S.A
18A:71C-21 et seq.
The principal purpose of this information is to verify your identity,
to determine your Program eligibility and benefits, to permit the
servicing of your loan(s) and, in the event it is necessary, to
locate you and to collect on your loan(s) if it becomes delinquent
or defaulted throughout the life of your loan(s).
The routine uses of this information include its disclosure to
Federal, State, or local agencies, to private parties such as relatives,
present and former employers, business and personal associates,
to guaranty agencies, to credit bureau organizations, to educational
and financial institutions, and to agency contractors in order to
verify your identity, to determine your Program eligibility and
benefits, to permit the servicing or collecting of your loan(s),
to counsel you in repayment efforts, to investigate possible fraud
and to verify compliance with Program regulations.
Are there loan limits for NJCLASS Loans?
Pursuant to P.L.2017 c.198, student beneficiaries first applying for a
NJCLASS loan on or after August 8, 2017 will be subject to a loan limit.
This is an aggregate per student loan limit, which will be increased
annually for each academic year over the prior year by the regression-based
index value of the Higher Education Price Index. The loan limit does not apply
to students who have previously received NJCLASS loans prior to August 8, 2017 or who applied for their
current loans prior to August 8, 2017.
Must I consider Federal Loans before I take out a NJCLASS Loan?
Public Law 2017 c. 198 also added requirements regarding the maximum annual loan amounts
for a student borrower. To determine the maximum annual loan amount the total federal
subsidized Direct loan amount available to the student has always been deducted from
the NJCLASS loan amount. The new law now requires HESAA to deduct the maximum amount
of federal Direct Unsubsidized Loans available to the student from the available NJCLASS
loan amount if the available interest rate for federal Direct Unsubsidized Loans is lower
than the interest rate available to the student under the NJCLASS Loan Program. However
to ensure that students do not lose federal loan benefits, including but not limited to
income-based repayment (IBR), loan forgiveness and redemption programs, HESAA is requiring
all federal Direct Loan amounts, subsidized and unsubsidized, to be deducted from the
certified NJCLASS loan amount, regardless of the interest rate.
