New Jersey § 18a:71c-25
Full text of New Jersey New Jersey Statutes § 18a:71c-25, with citation guidance and answers to common questions.
§ 18a:71c-25.
a. The authority shall establish maximum annual loan amounts and maximum total loan
amounts which may be made under the NJCLASS Loan Program; however, the amount of
a NJCLASS Loan Program loan may not exceed, in combination with other financial aid,
the total education costs of attending an eligible institution as determined by that
institution . b. In the case of a student borrower who first borrows under the NJCLASS Loan Program
after the effective date of P.L.2017, c. 198 , the maximum total loan amount which may be made shall not exceed $150,000. The amount of the borrowing cap shall be increased for each academic year over the
prior year by the regression-based index value of the Higher Education Price Index. The borrowing cap shall not apply to loans that are consolidating or refinancing
existing loans. c. When establishing the maximum annual loan amount for a student borrower, the authority
shall deduct the maximum amount of federal Direct Subsidized Loans available to the
student from the available NJCLASS loan amount. If the available interest rate for federal Direct Unsubsidized Loans is lower than
the interest rate available to the student under the NJCLASS Loan Program, the authority
shall deduct the maximum amount of federal Direct Unsubsidized Loans available to
the student from the available NJCLASS loan amount.
Frequently Asked Questions About New Jersey § 18a:71c-25
What does New Jersey Statutes § 18a:71c-25 cover?
Section 18a:71c-25 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:71c-25?
A common citation format is "New Jersey Statutes § 18a:71c-25" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:71c-25 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.