Hi Susan – thanks for the comment. I think what happened was that the NJHESAA program ran out of their money for the consolidation program. The money for that program is acquired through the sale of bonds to investor pools, so I think the Governor’s Office put a freeze on any state agencies selling those bonds for the time being. Chances are that now that the budget has been passed, they’ll get back to selling bonds again. I’d call over to the NJHESAA offices and ask them what their time frame is to get these funds available again.

“The funds available for NJCLASS Consolidation Loans have been exhausted. HESAA anticipates having additional funds for this program in the very near future. Please check back to this site for updates which will be posted as they are available.”

This is very frustrating, as his payments for multiple small loans is very high, and consolidation would make the monthly payment more manageable as he is just starting out. Do you know what our options might be?

I can’t find any information about this on the web anywhere…….