New Jersey § 18a:71c-21

§ 18a:71c-21.

The authority shall annually submit to the Governor and to the President of the Senate

and the Speaker of the General Assembly a report on the NJCLASS Loan Program. The report shall be submitted no later than August 1 of each year and shall include,

but not be limited to, the following information: the principal amount of bonds issued

to finance the NJCLASS Loan Program in the prior year and the interest rates offered

on those bonds; the total principal amount of authority bonds that are outstanding,

the interest rates on the bonds, and the retirement schedule for those bonds; the

total number and principal amount of outstanding NJCLASS loans, and the total number

and principal amount of NJCLASS loans contracted in the prior year; the total number

of NJCLASS loans that are in default and the number that entered default in the prior

year; the total number of loan collection lawsuits that have been filed under the

program, and the number of loan collection lawsuits that were filed in the prior year

and the status of those lawsuits; the number of requests filed in the prior year

with the authority for the forgiveness of an NJCLASS loan due to the death or total

and permanent disability of the borrower, the number of requests that were granted

or denied, and the reasons for the denial of requests; the number of requests filed

in the prior year with the authority for a loan deferment, the type of deferment requested

by the borrower, the number of requests that were granted or denied, and the reasons

for the denial of requests; and the number of forbearance requests filed in the prior

year with the authority, the number of requests that were granted or denied, and the

reasons for the denial of requests.