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NJCLASS Home | New Jersey Student Financial Aid | HESAA


1 NJCLASS cannot be compared to Federal Direct loans, subsidized or unsubsidized, because borrowers must first take Federal Direct Loans before NJCLASS loans. Like the Federal Parent PLUS loan, the NJCLASS family loan is a supplemental loan that can only be used to cover unmet need after all other aid, including Federal Direct Loans, is subtracted from the cost of attendance.

2 Principal and interest repayment calculations are based on repayment starting 45 days from disbursement for the immediate repayment option and 45 days after leaving school for full deferment and interest-only repayment option. Your actual payment may vary based on terms and conditions of your loan agreement.

3 Direct PLUS interest rate of 7.543% applies to loans disbursed on or after July 1, 2022 and on or before June 30, 2023. The interest rate for Direct PLUS loans disbursed on or after July 1, 2021 and before July 1, 2022 is 6.28%.

Student loan comparison information document (18A:71C-21.2) available here.

Fall 2022/Spring 2023 New Rates Effective May 16, 2022. Additional terms and conditions available here.