Wimberly Bill on Student Loan Info Becomes Law

January 22, 2013 at 5:16 PM

 

 

TRENTON, NJ - Legislation Assemblyman Benjie E. Winberly sponsored to require educational brochures on college loan repayment schedules to be created and distributed to high school students was signed into law on January 17today.

Sign Up for E-News

“Many high school students enter into college student loan agreements without any real knowledge of how the process of repayment works,” said Wimberly (D-Union).  “As part of ensuring that our students are prepared for college studies and college life, we can now open discuss the facts about post college responsibilities and student loan repayment.

“The prospect of college opens the high school student to new social and financial aspects they may have not had to think about before. This new law ensures our students will be given the important, additional information they need to plan their college years successfully.”

The law would direct the state Higher Education Student Assistance Authority (HESAA)

to create a document that will serve to educate high school students about college loan repayment schedules.  The HESAA is now required to post the document on its website and distribute it annually to public and nonpublic high schools. School districts and nonpublic high schools would be required to disseminate the document to high school juniors and seniors annually.

The sponsors said the law was especially necessary and timely after an annual report issued in June 2011 by the U.S. Department of Education listed several New Jersey public colleges as among the most expensive in the nation.

The document will include examples of monthly and annual loan payments required for various types of student loans, based on differing principal loan amounts and current interest rates, the time period it would take to fully repay those loans based on various monthly or annual payment installments, definitions of fixed rate loans, variable rate loans, and consolidation loans, and the consequences of defaulting on a student loan.

TAP Into Another Town's News:

TAP Into Another Town's News:

Sign Up for E-News

Paterson

Upcoming Events

Carousel_image_5094ec48d735cc739d3e_princeton

Tue, December 13, 6:00 PM

The Westin Princeton At Forrestal Village, Princeton

Association For Corporate Growth NJ Announces ...

Arts & Entertainment Business & Finance Food & Drink

Carousel_image_5094ec48d735cc739d3e_princeton

Tue, December 13, 6:00 PM

The Westin Princeton At Forrestal Village, Princeton

ACG NJ Announces Princeton Event December 13th, ...

Arts & Entertainment Business & Finance Food & Drink

Carousel_image_4d80854f4b5c252ca5b6_supernet

Wed, January 25, 6:30 PM

The Newark Club - Metropolitan Room, Newark

ACG NJ Joint Super Networking Party, January 25th ...

Arts & Entertainment Business & Finance Food & Drink

Beckerman’s Theory of Everything

Any armchair theoretical physicist knows that Stephen Hawking has pursued a lifelong quest to come up with a Theory of Everything. This all-encompassing theory would tie together general relativity (large scale and high mass galaxies, stars, etc), quantum theory (quantum mechanics, quarks, atoms, subatomic particles), and Newtonian physics (gravity on small bodies, gas laws, electromagnetism) to ...

'Real Santa' Ray Beesley Mourned Across NJ

December 3, 2016

WAYNE, N.J. - People all across New Jersey took to social media today to mourn the passing of Ray Beesley.

Beesley was known to many as the 'Real Santa' for his authentic year round look, jolly spirit, and the charitable things he did, such as make appearances at New Jersey Jackals games  in exchange for tickets for sick kids.

Ray Beesley of Paterson has been portraying ...

Lambda Upsilon Chapter of Omega Psi Phi Fraternity, Inc. participates in Turkey giveaway for the needy.

December 3, 2016

Paterson, N.J -   The Men of Lambda Upsilon Chapter of Omega Psi Phi Fraternity, Inc. participated in Turkey giveaway for the needy on Nov. 22.

 The Turkey giveaway provided a fresh turkey to 75 families in the Paterson, N.J. and surrounding area.  The Men of Omega Psi Phi Fraternity, Inc. Lambda Upsilon Chapter value helping the community and hope to provide joy to a ...

Upcoming Events

Carousel_image_5094ec48d735cc739d3e_princeton

Tue, December 13, 6:00 PM

The Westin Princeton At Forrestal Village, Princeton

Association For Corporate Growth NJ Announces ...

Arts & Entertainment Business & Finance Food & Drink

Carousel_image_5094ec48d735cc739d3e_princeton

Tue, December 13, 6:00 PM

The Westin Princeton At Forrestal Village, Princeton

ACG NJ Announces Princeton Event December 13th, ...

Arts & Entertainment Business & Finance Food & Drink

Carousel_image_4d80854f4b5c252ca5b6_supernet

Wed, January 25, 6:30 PM

The Newark Club - Metropolitan Room, Newark

ACG NJ Joint Super Networking Party, January 25th ...

Arts & Entertainment Business & Finance Food & Drink

Beckerman’s Theory of Everything

Any armchair theoretical physicist knows that Stephen Hawking has pursued a lifelong quest to come up with a Theory of Everything. This all-encompassing theory would tie together general relativity (large scale and high mass galaxies, stars, etc), quantum theory (quantum mechanics, quarks, atoms, subatomic particles), and Newtonian physics (gravity on small bodies, gas laws, electromagnetism) to ...

'Real Santa' Ray Beesley Mourned Across NJ

December 3, 2016

WAYNE, N.J. - People all across New Jersey took to social media today to mourn the passing of Ray Beesley.

Beesley was known to many as the 'Real Santa' for his authentic year round look, jolly spirit, and the charitable things he did, such as make appearances at New Jersey Jackals games  in exchange for tickets for sick kids.

Ray Beesley of Paterson has been portraying ...

Lambda Upsilon Chapter of Omega Psi Phi Fraternity, Inc. participates in Turkey giveaway for the needy.

December 3, 2016

Paterson, N.J -   The Men of Lambda Upsilon Chapter of Omega Psi Phi Fraternity, Inc. participated in Turkey giveaway for the needy on Nov. 22.

 The Turkey giveaway provided a fresh turkey to 75 families in the Paterson, N.J. and surrounding area.  The Men of Omega Psi Phi Fraternity, Inc. Lambda Upsilon Chapter value helping the community and hope to provide joy to a ...