NJCLASS Loans
NJCLASS is one of the nation's most affordable and flexible supplemental student loan programs in the nation.
NJCLASS Features:
- The lowest fixed interest rate
- Only a 2% loan fee
- Students or parents can borrow
- Flexible repayment options
- 10 or 20 year repayment term for the NJCLASS Fixed Rate Loan
- 25 year repayment term for the fixed rate Graduate and Professional Loan
NJCLASS allows students or parents to borrow the money you need to meet the cost of education after all other sources of student aid are exhausted. There are no annual and/or aggregate loan limits. NJCLASS may be used for school related expenses including tuition and fees, books, supplies, and room & board.
HESAA reduces the interest rate during school and for the first 48 monthly payments of principal and interest. This reduction assists borrowers in repaying more principal during these early months when the loan balance is highest. The result is a lower overall cost to the borrower.
NJCLASS Fixed Rate - our most popular supplemental for both undergraduate and graduate study. Apply Now
NJCLASS Fixed Rate loans for the 2010-2011 academic year will bear a 7.59% interest rate for loans in either monthly repayment of principal and interest or with monthly interest payments. Loans with deferred payment of principal and interest will carry a rate of 7.89%. The interest rate increases by 0.75% in the 49th month of monthly principal and interest repayment under all repayment options.
NEW Monthly payment of principal and interest –10 year term at 5.90%/6.65%
Ten year repayment term – We’re offering a new repayment option on our original fixed rate loan. This option gives those borrowers who want a loan but for a shorter duration a great rate! Monthly payments of principal and interest are required and begin within 60 days of disbursement. There are limited deferment and forbearance options. Why borrow through the Direct PLUS program when you can get a great deal here! NJCLASS allows the student to be the borrower, the interest rate is 2% LESS than the federal PLUS loan with ½ the Origination fees charged by PLUS!!
NJCLASS 10 Year Fixed Rate loans for the 2010-2011 academic year will bear a 5.90% interest rate. The loan is repaid over 10 years creating substantial savings on interest costs. The interest rate increases by 0.75% in the 49th month of monthly principal and interest repayment under all repayment options.
NJCLASS Fixed Rate for Graduate and Professional Students - just for graduate and professional students Apply Now
NJCLASS Fixed Rate for Graduate and Professional Students loans for academic year 2010-2011 will bear a 7.69% interest rate for loans in either monthly repayment of principal and interest or with monthly interest payments. Loans with deferred payment of principal and interest will carry a rate of 7.99%. The interest rate increases by 0.75% in the 49th month of monthly principal and interest repayment under all repayment options.
NJCLASS Loan for Medical and Dental Students - Designed to meet the needs of medical and dental students working toward a MD, DO, DDS or DMD degree. MedNJ offers a fixed interest rate, flexible repayment options, a 25-year repayment term and a special 3-year residency deferment. Apply Now
NJCLASS Loans for Medical and Dental Students for academic year 2010-2011 will bear a 8.17% interest rate for loans in either monthly repayment of principal and interest or with monthly interest payments. Loans with deferred payment of principal and interest will carry a rate of 8.47%.
You can have your payments automatically deducted from your bank account. Get started now - Download the NJCLASS Auto Debit application