N.J. Admin. Code § 9A:10-4.4

Current through Register Vol. 56, No. 24, December 18, 2024

Section 9A:10-4.4 - Application procedures

(a) In order to apply for participation in the Program, an applicant must complete a loan redemption program application and submit it to the Authority by the deadline the Authority posts on its website.

1. The program application includes identifying information about the applicant as well as contact information, current employment, approved graduate degree program attendance and graduation, the amount of the applicant's outstanding State and Federal student loans and the holder of those loans.

2. Inclusive within the Program application, an applicant must also have his or her employer, or potential employer, certify the applicant's start date for faculty employment at an eligible institution before submitting the application to the Authority.

3. An applicant must also submit with his or her application a final transcript from the approved graduate degree program, incorporating the applicant's GPA, and copies of the applicant's most recent eligible student loan billing statements.

(b) The Authority will consider applications for approval of Program participation from among those applicants who meet the eligibility criteria established pursuant to N.J.A.C. 9A:10-4.3, subject to available funding.

(c) In the event there are insufficient funds to select all of the applicants who meet the eligibility criteria, the Authority will rank all of the applications received during the application submission period using predetermined scoring evaluation criteria. The scoring evaluation criteria will be posted on the Authority's website no later than one month prior to the date on which applications will be available online each year.

N.J. Admin. Code § 9A:10-4.4

Amended by 56 N.J.R. 2292(b), effective 12/2/2024