Bill Text: NJ S2225 | 2012-2013 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Directs Higher Education Student Assistance Authority to forgive certain student loans in the event of the borrower's death.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2013-03-11 - Referred to Senate Budget and Appropriations Committee [S2225 Detail]

Download: New_Jersey-2012-S2225-Amended.html

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[First Reprint]

SENATE, No. 2225

STATE OF NEW JERSEY

215th LEGISLATURE

INTRODUCED OCTOBER 4, 2012

 

 

Sponsored by:

Senator  JAMES BEACH

District 6 (Burlington and Camden)

 

 

 

 

SYNOPSIS

     Directs Higher Education Student Assistance Authority to forgive certain student loans in the event of the borrower's death.

 

CURRENT VERSION OF TEXT

     As reported by the Senate Higher Education Committee on March 11, 2013, with amendments.

 

An Act concerning student loans offered through the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program and supplementing chapter 71C of Title 18A of the New Jersey Statutes.

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.  In the event of the ¹[borrower's]¹ death ¹of an eligible student borrower¹, the authority shall fully discharge the obligation of the ¹student¹ borrower and ¹[any individual]  a parent or guardian¹ who cosigned the loan.

     b.    The executor or administrator of the ¹student¹ borrower's estate shall provide written notification to the authority of the ¹student¹ borrower's death and shall provide the authority with a certified copy of the death certificate within 120 days of the ¹student¹ borrower's death.

 

     2.    This act shall take effect immediately.