Credit Card Center Advertiser Disclosure

Established Contributor
Posts: 616
Registered: ‎01-31-2008
0 Kudos

NJ Class Loan Help (HESSA)

I'm asking a question on behalf of my DW.  She has loans through HESSA, and I'm trying to explore options in terms of repayment.  I know that with my loans through AES, I've been met with extreme flexibility both in terms of favorable repayment plans as well as temporary forebearances as needed.  However, from what I'm reading the NJ Class Loan company is a different animal.  I'm hoping that someone can help me with a couple of goals.


1) Her payment due the 25th is going to be a tough one for us to make.  The monthly bill is nearly 500, which is a absurd in my eyes considering there have been no prior defaults or anything.  Anyway, could I call them and perhaps ask to change that due date, or defer for a month and pay only interest, or offer to double pay in September?  Has anyone had experience with this particular company?


2) Long term I'd love to lower that monthly payment.  I suppose consolidation is the only option for that.  Has anyone had experience with consolidating loans with HESSA?


Thanks in advance for your help.

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Valued Contributor
Posts: 1,653
Registered: ‎06-09-2008
0 Kudos

Re: NJ Class Loan Help (HESSA)

Are these federally-backed loans?  If so, they have the same repayment options as your loans through AES.  I would call in to let them know you'd like to discuss other payment plans, and if it looks like you qualify for IBR or some other reduced plan, ask them to give you a temporary forbearance while they process the paperwork to get it set up.


Start the process now though, since that due date is fast approaching.  You should also be prepared to make that payment if you can't get something in place before then if at all possible.  Stretching for the $500 now may hurt much less than a 30-day late sitting on your report for 7 years.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.