Requires annual report on NJCLASS Loan Program to include borrower delinquency and wage garnishment data.
Requires the Higher Education Student Assistance Authority to include additional information in its annual report on the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program. Specifically, the report must detail the number of loans that reached 90 days of delinquency, the number of administrative wage garnishment orders issued, and the total and median amount received from these garnishments. The report also includes data on loan collection lawsuits, forbearance requests, and deferment requests. This act takes effect immediately.
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