New Jersey Statutes
§ 18A:71C-4 — Federal loan evidenced by note; interest rate; method of payment; security.
New Jersey·Title 18A EDUCATION
18A:71C-4. Federal Loan Evidenced by Note; Interest Rate; Method of Payment; Security. Each federal loan made under this article shall: a. be evidenced by a note or other obligation approved by the authority; b. bear interest at a rate not exceeding the maximum percentage per annum permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations; c. be payable in such manner or in such installments as permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations; and d. be secured only by the personal liability of the maker, and not by any endorsers, co-maker's collateral, or other security, except as may be permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations. L.1999,c.46,s.1.
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Nearby Sections
15
§ 18A:71C-1
Administration by the authority.§ 18A:71C-11
Regulations.§ 18A:71C-12
Deduction of overdue student loan payments from wages of county and municipal employees.§ 18A:71C-13
Guidelines for payment of arrearages.§ 18A:71C-15
Guidelines for payment of arrearages.§ 18A:71C-16
Deduction of overdue student loan payments from wages of employees of the private sector.§ 18A:71C-17
Lien not treated as wage execution.§ 18A:71C-19
Professional or occupational misconduct.§ 18A:71C-2
Application; grounds for approval.§ 18A:71C-21.1
Annual report on NJCLASS Loan Program.