18A:71C-23 - Eligible borrower - New Jersey Statutes

18A:71C-23  Eligible borrower.

18A:71C-23.  Eligible Borrower.

Loans under the NJCLASS Loan Program may be made to eligible borrowers.  An eligible borrower is an eligible student or any parent, spouse, legal guardian or other relative providing financial support for a dependent eligible student.  The authority shall set maximum loan amounts for each participant based on such factors as the cost of attending the particular institution, family income, value of family assets or other factors the authority may consider relevant.  The loans may be secured by such endorsement, co-maker's collateral or other security as may be required by rules and regulations established by the authority.

L.1999,c.46,s.1.