N.J. Admin. Code § 9A:17-3.2

Current through Register Vol. 57, No. 1, January 6, 2025

Section 9A:17-3.2 - Beneficiary responsibilities

(a) A potential beneficiary must provide evidence that as an undergraduate or graduate student he or she was from a disadvantaged background, as demonstrated by inclusion in at least one of the following categories:

1. Meet the requirements of N.J.A.C. 9A:11-2.3;

2. Be a former or current recipient of a New Jersey EOF Article III undergraduate or graduate grant;

3. As a student, would have been eligible as an undergraduate for a New Jersey EOF Article III student grant; or

4. Was a first-generation college student whose immediate family was eligible for government assistance and/or educational programs targeted toward low income and disadvantaged populations (TRIO, NJ GEAR UP, free and reduced breakfast programs, food stamps or at least one year of Pell grants).

(b) The beneficiary shall provide such evidence as the institution or the Commission may require of payments on eligible student loan(s) in accordance with the terms of the loan agreement(s) or promissory note(s).

(c) The beneficiary shall provide such evidence as the host institution may require that he or she has redeemed some portion of the eligible student loan(s) during the academic year, unless the institution or the Commission makes the loan redemption payment(s) directly to the lender, as indicated in N.J.A.C. 9A:17-3.1(d)3 and 3.3(c), respectively.

(d) The beneficiary shall comply with all Federal and State tax laws and regulations and rules regarding the additional compensation received from the host institution or the payment(s) to the lender(s) made by the host institution or the Commission, if applicable, for the purposes of redeeming eligible student loans under this program.

N.J. Admin. Code § 9A:17-3.2