STATEMENT TO

SENATE, No. 743

with Assembly Floor Amendments

(Proposed by Assemblyman MAZZEO)

ADOPTED: SEPTEMBER 15, 2016

      These Assembly floor amendments provide that the Higher Education Student Assistance Authority will forgive student loans under the NJCLASS Loan Program in the event of the student borrower's total and permanent disability.  The bill in its original form only required loan forgiveness in the event of the death of a student borrower.  The amendments also require the authority to grant a deferment of payment of loan principal and interest in the event that a student borrower becomes temporarily totally disabled.