Category Archives: Student Loans

Glossary of Student Loan Terms

Below is a Glossary of Student Loan Terms. Please have a read. If you have any Student Loan questions please Contact the I. Mark Cohen Law Group via our Contact Page or by calling 732-741-9500.

Account

A grouping of one or more Direct loans distributed by the U.S. Department of Education. Borrowers can have one or more accounts. Each account has a unique number assigned to identify it. The format of an account number is your Social Security Number (SSN) plus a one-digit identifier added to the end (e.g. 123-45-6789-1), if you receive a notice that affects all of your possible accounts, the account number on the notice may be abbreviated to the SSN only.
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New Jersey Higher Education Student Assistance Authority Loans (NJ CLASS Loans) and Bankruptcy

New Jersey Higher Education Student Assistance Authority Loans (NJ CLASS Loans) and Bankruptcy
by: Jonathan Goldsmith Cohen

Christmas may have been last month but it is fast approaching the “most wonderful time of the year” for the New Jersey Higher Education Student Assistance Authority (HESAA). If you have an NJ CLASS loan and are in default on it, your federal and state tax refund can be withheld and applied to your NJ CLASS loan until it is paid in full. If you are a co-signer on an NJ Class loan and that loan is in default, your refund may be withheld to the defaulted loan as well. Don’t worry though, I’m here to provide a solution that will help you reorganize and pay off your NJ CLASS loan(s) for good. This can also help the co-signer on an NJ CLASS loan. Continue reading