Why Can’t New Jersey Get Their Act Together and Stop by NJCLASS Loans Over Coronavirus?

Question:

Dear Steve,

I am a cosigner for my son’s college loan through HESAA. I pay $801/month to HESAA for him. You answered a previous question for Al saying, ” Your NJCLASS loan is part of HESAA. They are an independent State of New Jersey government branch.” I just found out today from my legislator that the governor of the state of NJ (Murphy) is NOT going to freeze HESAA student loan payments because HESAA is not a NJ owned lender. Once again, “They are an independent State of New Jersey government branch.

Is HESAA truly independent, like a private lender, and can not be told by New Jersey governor Murphy to freeze HESAA student loan payments during this COVID19 pandemic?

Albert

Answer:

Dear Albert,

I’m not sure what to say about NJCLASS. It is a totally out of control situation created by New Jersey and that can be fixed by New Jersey lawmakers who have been unwilling or unable to do what is right.

Sometimes politics just really sucks.

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