College Financial Aid for New Jersey Students and Parents

Go to College, Pay for College

A big chunk of your time spent when planning for college involves finding financial aid, primarily student loans. And once you’re in college, the money issue continues to come up again every fall just as surely as the tuition bills come due. The New Jersey Higher Education Student Assistance Authority (HESAA) has much of the problem already solved. If you’re a student living in New Jersey, a parent, or an out-of-state student looking to enroll in a New Jersey college or university, HESAA should be near the top of your to-do list.

Here’s what you’ll find useful:

  • Tips for planning for college
  • How to apply to college
  • Planning for student loans
  • Loan calculators
  • Information on New Jersey gift aid programs
  • Applications and information on the federal student loan programs
  • NJClass alternative loans
  • Managing money after college

Student Loans Strategy

The federal student loan programs are your first step. Complete the FAFSA, the Free Application for Federal Student Aid, and submit it by the deadline to be considered for federal aid. Don’t make the mistake that over 2 million students make each academic year—they assume their household income would not qualify them for aid. Most of them are dead wrong. The Federal loans include:

  • Subsidized and unsubsidized Stafford Loans
  • Parent PLUS Loans
  • PLUS Loans for Graduate and Professional Students
  • Perkins Loans
  • Federal Consolidation Loan

The federal loans offer borrowers some of the lowest interest rates, low fees and flexible repayment terms. The Stafford Loans are credit-free, making them extremely easy to qualify for.

Find out more about the federal student loan programs.

An Alternative Student Loan for New Jersey

Not every state sanctions its own form of a private student loan, so New Jersey’s NJClass Loans are a no-brainer for New Jersey students. As with every other private or alternative student loan this is a last resort, in fact you aren’t eligible to borrow unless you’ve already used your federal loan opportunities. The HESAA loans include an NJClass Loan for undergraduates and parents and an NJClass Loan for Graduate and Professional students. These supplemental loans are credit based, but borrowers with inadequate credit may borrow with a co-signor.

This is one of the best programs New Jersey students could hope for. Need more details? Visit the HESAA website.