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 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!