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Student Loans

NJCLASS Student Loans Review

  • Students attending school can choose between three different loan options
  • Students with existing loans have access to a refinance or consolidation loan
  • To be eligible, you must have already submitted the FAFSA

The New Jersey College Loans to Assist State Students (NJCLASS) program is made available through the Higher Education Student Assistance Authority (HESAA). This program offers three different fixed-rate student loans to NJ residents or college students.

In this NJCLASS review, you’ll learn about the differences between the three loans, what eligibility requirements need to be met, how the application process works, and more.

What types of student loans does NJCLASS offer?

NJCLASS student loans include in-school, refinance, and consolidation loans. Here’s a breakdown of the different options:

Loan type# of loansDropdown
Standard NJCLASS Loan3Click here
ReFi + Refinance Loan2Click here
NJCLASS Consolidation Loan1Click here

Standard NJCLASS Loan

There are three different loans offered under the Standard NJCLASS Loan. Each comes with a unique fixed rate, term length, and repayment option. Here is a breakdown of the three different options:

Rates (APR)4.45%4.96%5.51%
Rate typeFixedFixedFixed
Admin fee3%3%3%
Term length10 years15 years20 years
In-school repaymentFullInterest-onlyDeferred
PrepaymentNo penaltyNo penaltyNo penalty
Autopay discount0.25%0.25%0.25%
Learn moreClick hereClick hereClick here


  • Your choice between three different loans
  • Low interest rates
  • A discount for making automatic payments
  • No prepayment penalty


  • A 3% administration fee
  • No $25 fixed repayment option while in school
  • Loan limits not disclosed

ReFi+ Refinance Loan

There are two NJCLASS ReFi+ products available to borrowers with existing NJCLASS, Parent PLUS, or private loans. Here is a breakdown of the two loans:

ReFi+ 10-YearReFi+ 15-Year
Rates (APR)4.15%, 4.89%, or 5.99%4.45%, 5.19%, or 6.49%
Rate typeFixedFixed
Term length10 years15 years
Debt requirement$5,000+$5,000+
Learn MoreClick hereClick here


  • Your choice between the two loans


  • Not a lot of information available on its website
  • Lower rates available elsewhere
  • Repayment options are limited

NJCLASS Consolidation Loan

The NJCLASS Consolidation Loan allows borrowers with existing NJCLASS loans to consolidate them into one single, fixed-rate loan. Available information is limited, but borrowers must consolidate at least $30,000 and be out of school.

The repayment term for balances between $20,000 and $60,000 is 25 years, while the repayment term for balances of $60,00 or more is 30 years.

There is no interest rate information, but there is a 1% administrative fee if approved.