New Jersey’s NJCLASS student loan program would add overdue-loan counts and details about money collected from borrowers’ paychecks to its annual report.
NJCLASS’s annual student loan report would add counts of loans reaching 90 days overdue and details about orders to collect money from borrowers’ paychecks.
The agency running NJCLASS would add overdue-loan figures and details about paycheck collections to its annual report. The figures would count loans that reached 90 days overdue, overall and in the prior year. They would also count withholding orders started in the prior year, orders issued, and loans kept out of default through these collections. They would show the total collected and the median, or middle, amount collected. The change would take effect upon enactment; annual reports would remain due by August 1.
No hearings or votes scheduled.