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 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 title IV approved degree or certificate program.
- Be enrolled at least half-time and
be making satisfactory academic progress, as defined by the school.
- Have submitted a
FAFSA and determined all available Federal loan eligibility
before applying for a NJCLASS Loan.
- Not have reached the NJCLASS aggregate loan limit, if applicable.
|
|
|
Borrowers must |
|
- Be a U.S. Citizen or eligible non-citizen.
- Be creditworthy and meet minimum income requirements, or have an eligible Coborrower or 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!
|
|