When You Pass, No One Should Pay: Student Debt Forgiven in Case of Death in NJ

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When You Pass, No One Should Pay: Student Debt Forgiven in Case of Death in NJ

Dec, 19th 2016

Gov. Chris Christie on Monday signed legislation allowing certain New Jersey student loans to be forgiven if the borrower dies.

The Republican governor signed the legislation along with 14 other measures but didn’t offer any comments on the student loan legislation. He did not take questions at an event in Atlantic City.

The measure forgives New Jersey College Loans to Assist State Students (NJCLASS) if the borrower dies, even if a parent or guardian co-signed the loan.

The loan program came under scrutiny after media reports focused on its stringent rules and aggressive collections process, which is much more restrictive than other states. Federal student loans are forgiven on the death of the borrower.

The program helps cover college costs not already paid for by other grants, scholarships...

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