18A:72F-9 - Nullification of service obligation - New Jersey Statutes

18A:72F-9  Nullification of service obligation.

9.In case of a program participant's death or total or permanent disability, the executive director of the Higher Education Student Assistance Authority shall nullify the service obligation of the student, thereby terminating the student's obligation to repay the unpaid balance of the redeemable portion of the loan and the accrued interest thereon, or where continued enforcement of the contract may result in extreme hardship, the executive director of the authority may nullify or suspend the service obligation of the student.

L.1984,c.189,s.9;  amended 1994, c.48, s.278; 1999, c.46, s.60.