Official Site of The State of New Jersey
Filling out the FAFSA is incredibly important for securing national grants like the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), and federal loans.
If you are a ward of the state/foster child make sure that you fill out question 52 which asks if “Parents Deceased?/Student Ward of Court?/In Foster Care?”
FAFSA deadlines can be found on the Studentaid site.
Higher Education Student Assistance Authority (HESAA) awards the Tuition Aid Grant (TAG) for students attending New Jersey colleges and universities. In order to fill out the HESAA, students must complete the FAFSA first.
Complete state records in NJ FAMS (the HESAA portal) by November 1, 2021. For more information on deadlines refer to the HESAA deadline page.
New Jersey’s Tuition Aid Grant (TAG) is a need-based financial aid program. One third of all full-time undergraduate NJ residents attending school in New Jersey receive support through TAG.
For information visit tag_program.pdf (hesaa.org) or call the Customer Care Center at 609-584-4480 Monday through Thursday 8 a.m. to 8 p.m. Friday 8 a.m. to 5 p.m. You can also e-mail them at CustomerCare@hesaa.org
To be considered for a TAG award, students must complete the Free Application for Federal Student Aid (FAFSA) or NJ Alternative Financial Aid Application within established state deadlines. The NJ TAG, like most federal and state grants is based on financial need, and this will be impacted by income when filing the FAFSA. Your eligibility and award amounts may also vary from year to year.
Individual schools have net cost calculators or financial aid estimators for students to gain an idea of what they will have to pay, A few examples are below:
The Financial Aid and Education Resource Guide contains valuable information on federal and New Jersey state financial aid resources, information on applying for scholarships, as well as a list of available scholarships and college planning resources.
The Educational Opportunity Fund (EOF) Program assists students from disadvantaged backgrounds by providing additional financial aid, support services, and college preparation courses. To find out if the school you are applying to participates, click here.
Loans are money that you borrow from the government or private lenders for tuition, fees, and school expenses. Loans must be paid back with interest. Each loan has its own payment agreement and interest rate.
Different types of student loans
Private loans - Private student loans are available through non-federal and non-state lenders such as credit unions and banks. Private loans are not eligible for most debt forgiveness programs at the governmental level, and the interest rates vary.
Federal Student Loans - Federal student loans have flexible favorable terms, which include re-payment maximums and flexible re-payment options. They are sourced from the U.S. Department of Education and generally have lower interest rates than private lenders. A Free Application for Federal Student Aid (FAFSA) is required to be considered for Federal Loans. Students who demonstrate exceptional financial needs can qualify for interest-subsidized loans. Currently, the federal government has paused student loan payments until December 31, 2022.
Subsidized Student Loans - Students who qualify for subsidized student loans demonstrate financial need. The Education Depart pays for the interest acquired on these loans and is only available to undergraduate students.
Unsubsidized Student Loans - Students who qualify for unsubsidized student loans do not need to demonstrate financial need. The Education Department does not pay for the interest acquired on these loans, and the interest begins accruing immediately when they are disbursed. These loans are available to undergraduate, graduate, and professional
Financial aid award letters -
If your initial award letter from your chosen educational program is inadequate or does not meet the full tuition and fees balance, you can appeal the award amounts. By reaching out to your program or college's financial aid department, you can apply for additional sources or appeal your award letter.
Grants and scholarships over loans -
As a note, prioritize funding sources from grants and scholarships over private or federal loans. Private and government grants do not need to be reimbursed.
Guidance Counselor -
Your high school guidance counselor can be an excellent resource for locating appropriate financial aid, which includes grants and scholarships. They are often time able to provide institution-specific financial assistance.
The Biden-Harris Administration's Student Debt Relief Plan
President Biden, and Vice President Harris, in association with the U.S. Department of Education, are geared toward low-income federal student loan borrowers. The plan includes federal loan forgiveness of up to $20,000.00 for recipients of Federal Pell Grants and up to $10,000.00 for other Federal Student Loan Recipients. Qualification is dependent on current personal income and parental income.
For more information - visit the Student Aid Website
