New Jersey S2047 requires the Higher Education Student Assistance Authority to consider combined incomes of all cosigners for NJCLASS Loan Program.
New Jersey S2047 amends the NJCLASS Loan Program to require the Higher Education Student Assistance Authority to consider the combined incomes of all cosigners when setting the minimum income requirement for eligibility. This change aims to ensure that students with multiple cosigners, such as both parents, can meet the income criteria and participate in the program. The authority will use documents like tax returns and pay stubs to verify the financial information provided by applicants and cosigners.
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