Am I eligible for a NJCLASS Loan?
 

In order to apply for a NJCLASS 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.

Student Borrowers must
 
  • Be a U.S. Citizen or eligible non-citizen.
  • 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.
  • Be enrolled in a degree or certificate program.
  • Be enrolled at least half-time and be making satisfactory academic progress.
  • Have submitted a FAFSA and determined their Federal loan eligibility before applying for a NJCLASS Loan.
  • Be creditworthy and meet minimum income requirements, or have an eligible Cosigner.
  • Not be delinquent on any existing NJCLASS Loans or have a Federal or State loan in default status.
   
Parent Borrowers must
 
  • Be the biological or adoptive parent of the student, or the spouse of the student's parent.
  • If you are the spouse of the parent, your income and assets must be reported on the Free Application for Federal Student Aid (FAFSA) or be reported if a FAFSA were filed.
  • Be a U.S. Citizen or eligible non-citizen.
  • Be creditworthy and meet minimum income requirements, or have an eligible Cosigner.
  • Not be delinquent on any existing NJCLASS Loans or have a Federal or State loan in default status.
   
Cosigners must
 
  • Be at least 18 years old.
  • Be a U.S. Citizen or eligible non-citizen .
  • Be creditworthy and meet minimum income requirements.
  • Not be delinquent on any existing NJCLASS Loans or have a Federal or State loan in default status.
   
If you meet the above criteria, you may apply for a NJCLASS Loan!