Frequently Asked Questions - NJCLASS Xpress Fixed Rate Loan

User ID/Password
Why do I need a User ID and Password?
How do I get a user ID and password?
Lost or forgotten password
User ID problem/User ID already exists message
Other login/User ID issues
Nothing happens when I click the link to apply for a loan. How can I fix this?

Parties to the Loan Application: Student/Borrower/Co-borrower/Cosigner/Joint Cosigner
Can the Student be the Borrower if the student has no income?
Must the Student be the Borrower?
What's the difference between Co-borrower and Cosigner ?
Is a Cosigner always required ?
Is a Co-borrower always required ?
Can the same person be Co-borrower AND Cosigner?
Parent Cosigner/Joint Cosigner

What to do next
What should I enter for Academic Period of the Loan?
We've entered the Borrower info, how do we fill out the Cosigner info?
How do I add a Joint Cosigner to a completed application to have my application reconsidered?

Borrowing, Credit, Interest Rates, and Fees
How much can I borrow?
How is the interest rate determined?
Are there any fees for applying for and/or receiving a NJCLASS loan?
What is the Truth in Lending Act (TILA)?
What does Usury Interest Rate mean?
What is a Private Education Self-Certification Form, and why do I need to complete this?
What is cost of attendance?
How do I complete the "Estimated Financial Assistance" amount on the Private Education Self Certification Form ?
What is period of enrollment?
What is a "Loan Offer" and why must I accept my loan within 30 days?
What is the purpose of the three day right to rescind and how will it affect my loan?
What is an APR?
What is a pre-paid finance charge?
What is the amount financed?
What is the initial finance charge?
What is Capitalization?
What is a Variable Interest Rate?
What is LIBOR?
What is a "Private Education Loan" ?
What is Title IV aid?
What does it mean if my loan is pre-approved?

Eligibility
Am I eligible for a NJCLASS Loan?
Do you have to live in NJ to get a NJCLASS loan?
Do you have to attend school in NJ to get a NJCLASS loan?

E-Signature
Why can't I eSign?
Can all parties to a loan still e-sign if their identities could not be confirmed?
What are the required documents I must send it in if I failed authentication?
Can I Scan and email my documents to NJCLASS?
How do I eSign?
Does everyone on the loan application have to sign electronically?
What does it mean to sign electronically?
Why should I sign electronically? Is it secure?
If I sign electronically can I still print a copy of my documents?
How do I know if I completed the eSign ceremony correctly?
My cosigner and I will be completing the application together, how do we both sign electronically?
How does everyone sign if we are not together all at once? Can we all sign electronically?
Can I complete all of the eSignatures for everyone on the application? How does HESAA know that each party individually eSigned?
I want to eSign now but I already clicked the finish button, can I still eSign?
Can I save my application and return later to eSign?

Printing and Other Technical Issues
How do I print the application and promissory note?
I'm having trouble printing / troubleshooting a printing problem
I've got a recent version of Adobe Acrobat Reader but it's not recognized
Printing error messages
I want to print my application later, how do I do this?
Do I have to mail my completed application and promissory note?
I'm having trouble printing / troubleshooting a printing problem
Other printing questions
Can I fax my application documents to you?

Loan Disbursement and Repayment
How will I get the money?
When do I start repayment?
May I make payments on a loan while in school?
How are payments applied?
Will I be suspended for repeatedly making payments with insufficient funds?
What are the consequences if I default on my NJCLASS?
Is information about my loans reported to the credit bureaus (also known as consumer reporting agencies)?

Other Questions?
Other questions? How to contact us by phone or email.

Why do I need a User ID and Password?

To help mitigate fraud, HESAA requires all parties to the application to have their own User ID and password. Each borrower on the application must pass an authentication process in order to sign their application. The User ID and Password also enables the borrower to access their accounts with HESAA.

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How do I get a user ID and password ?

To register, follow these steps:

  1. Click on the register button
  2. Create your user id profile, and choose your user ID and a password. You will also be asked for a security question/answer, in case you forget your password.
  3. If you've already registered, click on login and enter your user id and password.

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I forgot my password, what should I do?

Enter your user ID and click "Reset Password". You will be prompted to answer some questions, and then you can reset the password.

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I got an error that said the user ID already exists. What should I do?

The user ID may have been chosen by a different person. Please choose a different ID and try again. If you are still having difficulty, please contact us.

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Other Login/User ID and Password issues:

We recommend using Internet Explorer to access the system. Cookies and javascript (active scripting) must be enabled.

If you are still having trouble with your login or password, please contact us.

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How do I print my application and promissory note?

To print,