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Author Topic: Grad Plus vs NJCLASS  (Read 817 times)

dukedogalley

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Grad Plus vs NJCLASS
« on: June 20, 2007, 12:43:08 PM »
Anyone attending school in NJ and have info on the NJCLASS loan issued by the NJ Higher Education Assistance Authority?  It is a fixed loan at 6.8% for defferred payments and 6.0% for non deffered auto-payments.  It sounds pretty good to me, but I must admit I haven't done extensive research on loan options.  Does this sound like a good deal to you?  After reading the terms of most grad plus loans the NJCLASS loan seems like a better option..am I missing something?

woah

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Re: Grad Plus vs NJCLASS
« Reply #1 on: June 20, 2007, 02:24:03 PM »
i went to undergrad in nj and had a bunch of njclass and gradplus loans.  i don't know much about the gradplus because i didn't have much with them, and once i consolidated i didn't have to worry at all.  njclass is a private company, so consolidation with them was a pain and i eventually just decided to keep them seperated (now i have two payments, one for njclass and one for everything else).  but, they are really lenient with everything.  the rates are fixed, and if you miss a payment, and i often did, they don't bug you much at all and they won't report you.  i was six months late once because i thought i had paid but i actually hadn't, and finally somebody called me and was like 'we are going to have to report this to a creditor unless you pay, but no worries, we'll give you 6 weeks to get the money together'.  i appreciated that.  one problem i had is that they won't call until it's really late, and they don't email.  so in college when i was changing where i lived every year i missed a lot of notices.  anyway, that was more my fault than theirs.  overall i was/am pretty happy with them.

dukedogalley

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Re: Grad Plus vs NJCLASS
« Reply #2 on: June 20, 2007, 03:42:11 PM »
i went to undergrad in nj and had a bunch of njclass and gradplus loans.  i don't know much about the gradplus because i didn't have much with them, and once i consolidated i didn't have to worry at all.  njclass is a private company, so consolidation with them was a pain and i eventually just decided to keep them seperated (now i have two payments, one for njclass and one for everything else).  but, they are really lenient with everything.  the rates are fixed, and if you miss a payment, and i often did, they don't bug you much at all and they won't report you.  i was six months late once because i thought i had paid but i actually hadn't, and finally somebody called me and was like 'we are going to have to report this to a creditor unless you pay, but no worries, we'll give you 6 weeks to get the money together'.  i appreciated that.  one problem i had is that they won't call until it's really late, and they don't email.  so in college when i was changing where i lived every year i missed a lot of notices.  anyway, that was more my fault than theirs.  overall i was/am pretty happy with them.

Thanks for the input, were the rates better than your gradplus loans when you took them?

anyone else have info?