Financial aid nj
The Higher Education Student Assistance Authority (HESAA) is regulated and monitored by New Jersey university authority to provide the financial aid informational resources for students to pursue their education. Since the year 1959, HESAA focused to benefit the students in achieving their educational costs.
The services offered by the New Jersey Educational Authority was:
* Every year HESSA offers more than $1.2 billion financial aid facilities like grants, scholarships and loans.
* HESSA introduced New Jersey student loan waiver scheme in the year 1999 which decreased the student's indebtness.
* In the financial year 2006, HESAA provided financial assistance of $198 million of union aid programmes over 160 awards.
* New Jersey financial aid provides with less interest rates compare to other nations.
* The Authority's revenue allows it to reduce interest rates on nj CLASS loans. Last year alone, the interest rates on loans in nj CLASS were as low as 7.62% -- among the lowest in the nation.
* It also awarded 14,000 merit-based scholarships to encourage the State's brightest students.
Types of financial aid provided by the New Jersey colleges:
1. Educational Opportunity Fund - The New Jersey Educational Opportunity Fund was created by legal authorities in 1968 to uplift the students of economic, social and educational disadvantage sections. This Educational Opportunity Fund assists low-income group of students in New Jersey of who are incapable of paying educational costs. EOF Program homepage assist the students with educational costs at 41 colleges and universities in the State.
2. The Special Needs Grant Program - The Special Needs Grant Program origin of the programme "Higher Education Services for Visually Impaired, Auditory Impaired and Learning Disabled Students Act" established to assist the special needs students in 1986.
3. The College Bound Grant Program - The College Bound Grant Program, established to serve the educational needs of urban/minority youth in grades 6-12. The program facilitates pre-college educational enrichment activities to support them to below aspects:
4. nj S E.J. Bloustein Distinguished Scholars Program
The highest merit achieving high school students are deserved to get nj S E.J. Bloustein Distinguished Scholars. The top ten students of an academic year are offered of $1,000 financial award under this scholarship.
5. nj S Urban Scholars Program
The merit students of state's urban and economically distressed areas (as defined by the State of New Jersey Department of Education) public schools will be may be selected for nj S Urban Scholarships.
6. nj S TAG Award
The residents of New Jersey who are residing minimum of 12 months are eligible to grant Tuition aid Grant (TAG) up to $7,272 per academic year.
7. nj S Educational Opportunity Fund (EOF) Grants
The New Jersey State Educational Opportunity Fund (EOF) supports economically and educationally disadvantaged students by providing financial aid. The residents of New Jersey State are eligible for this facility. The deserved candidates must be full-time, matriculated students to receive the Educational Opportunity Fund awards valued up to $2,300 per academic year.
8. nj CLASS Loan Program
The nj CLASS loan program is provided to the students and parents on credit-basis. This program offers to borrow up to the cost of education less any other financial aid.