Im repaying my loans now, but Im still in school. Why do I have to wait to consolidate?
You want to be sure that you wont need additional NJCLASS loans after you consolidate. The best way to ensure that is to be out of school. Additionally, there are very limited forbearances and no deferments available once you consolidate. HESAA understands that most students cannot afford to make regular monthly payments while attending school, and that sometimes graduates do not find immediate employment. Because NJCLASS loans do allow deferments while the student is enrolled, we want you to have this option available if you need it. Once you are ready for consistent monthly repayment of the principal and interest of your NJCLASS loans, you should consider the consolidation option. Return to top of page Im delinquent on my outstanding NJCLASS loans. Am I still eligible? You may still be eligible. Consolidating your NJCLASS loans will give you a lower monthly payment by extending the repayment term. We understand that this may help you resolve your delinquency and avoid it in the futur
You want to be sure that you wont need additional NJCLASS loans after you consolidate. The best way to ensure that is to be out of school. Additionally, there are very limited forbearances and no deferments available once you consolidate. HESAA understands that most students cannot afford to make regular monthly payments while attending school, and that sometimes graduates do not find immediate employment. Because NJCLASS loans do allow deferments while the student is enrolled, we want you to have this option available if you need it. Once you are ready for consistent monthly repayment of the principal and interest of your NJCLASS loans, you should consider the consolidation option. Return to top of page Im delinquent on my outstanding NJCLASS loans. Am I still eligible? You may still be eligible. Consolidating your NJCLASS loans will give you a lower monthly payment by extending the repayment term. We understand that this may help you resolve your delinquency and avoid it in the futur
