New Jersey Student Loans And Financial Aid Programs

There are several New Jersey student loan and financial aid programs that can help you pay for college. If you're going to be attending college in New Jersey, you need to be looking to take advantage of these programs.

These programs are designed to help make college more affordable - so that you can get the education you need. These programs can include scholarships, grants, and student loans.

Don't forget that there are Federal student loan programs available as well. You can find out more on how to get a Federal student loan here.

There is also a specific order of operations to pay for college that we recommend students follow. These programs specific to the State of New Jersey can help you to avoid borrowing more money than you need to. 

New Jersey Student Loan Programs

New Jersey has a student loan program called NJCLASS. This loan program offers a variety or rates and terms to help you pay for expenses not covered by Federal student loans or other financial aid.

For the 2024-2025 school year, the NJCLASS Student Loan is offering:

• 10 Year Fixed Rate: 5.99% APR
• 15 Year Fixed Rate: 6.99% APR
• 20 Year Fixed Rate: 7.99% APR

Find out more about NJCLASS loans here.

If you're just looking for private student loan options, we recommend:

• Credible - Like the Kayak of student loans, they help you shop around and compare options. Try Credible here.
• College Ave - One of the best private student loan lenders. Get A Quote At College Ave Here.

Check out our complete guide to finding the best student loans here.

New Jersey Scholarship Programs

New Jersey has several scholarships available to students who want to attend school in the state.

New Jersey Stars Scholarship

New Jersey residents who rank in the top 15.0%of their class at the end of either the junior or senior year of high school may be eligible to receive an NJ STARS award for attendance at their home county college.

The NJ STARS award covers the cost of tuition, less any State and/or federal grants and scholarships, for up to 18 credit hours per semester.

Learn more about the New Jersey Stars Scholarship.

Governor's Urban Scholarship

The Governor’s Urban ScholarshipProgram, launched by New Jersey in 2012, is a merit-based scholarship program that benefits students inNew Jersey’s economically-challenged communities.

Learn more about the Governors Urban Scholarship.

Governor's Industry Vocation Scholarship

The Governor’s Industry Vocations Scholarship (NJ-GIVS), which pays up to $2,000 per year or up to the cost of tuition, less any federal, State, or institutional aid in an eligible certificate or degree program at one of New Jersey’s eligible institutions.

The scholarship is funded by the SchoolsDevelopment Authority (SDA) and administered in partnership with HESAA. The award benefits women and minority students pursuing a certificate or degree program in a construction-related field

Learn more about the Governor's Industry Vocation Scholarship.

New Jersey Grant Programs

New Jersey also has a grant program to provide need based financial aid to New Jersey residents.

Grants are one of the best forms of financial aid because, in most circumstances, you don't have to pay the money back.

Tuition Aid Grant

One of the most generous need-based financial aid programs in the nation. Tuition Aid Grant awards go to full-time undergraduate students enrolled in an approved degree or certificate program.

One third of all full-time undergraduate New Jersey residents attending school in New Jersey receive support through TAG.

These are the approximate maximum full-time TAG awards for AY 2023-2024:

• County Colleges $3,098
• State Colleges & Universities $9,496
• Proprietary Degree-Granting* $10,964
• Independent Colleges & Universities $14,404

Learn more about the Tuition Aid Grant.

Other Options

If you already have student loans and are looking for options as a New Jersey resident, check out our New Jersey Student Loan Forgiveness Program page. That page has all the different options available to New Jersey residents to potentially get some of your student loan debt forgiven.

You might also look at refinancing your student loans and saving money in interest while also potentially lowering your payment. Check out our guide on the Best Places To Refinance Your Student Loans.

If you're looking for ways to save for college in New Jersey, check out our New Jersey 529 Plan and College Savings Guide.

Finally, check out the other student loan and financial aid programs by state.