New Jersey S3777 allows deferment of NJCLASS student loan payments for 12 weeks for new parents.

New Jersey S3777 mandates the Higher Education Student Assistance Authority to defer New Jersey College Loans to Assist State Students (NJCLASS) payments for eligible student borrowers who become parents. The deferment lasts 12 weeks, starting from the date the authority receives proof of the child's birth or adoption. During this period, interest on the loan does not accrue. To qualify, the student borrower must submit proof of the child's birth or adoption within 120 days of the event. This act takes effect immediately.

New Jersey S3777 allows deferment of NJCLASS student loan payments for 12 weeks for new parents.

New Jersey S3777 mandates the Higher Education Student Assistance Authority to defer New Jersey College Loans to Assist State Students (NJCLASS) payments for eligible student borrowers who become parents. The deferment lasts 12 weeks, starting from the date the authority receives proof of the child's birth or adoption. During this period, interest on the loan does not accrue. To qualify, the student borrower must submit proof of the child's birth or adoption within 120 days of the event. This act takes effect immediately.