Requires Higher Education Student Assistance Authority to consider combined income of all cosigners on application for participation in New Jersey College Loans to Assist State Students (NJCLASS) Loan Program.

This bill (S 2047) changes how the New Jersey College Loans to Assist State Students (NJCLASS) Loan Program determines eligibility for student loans. It requires the Higher Education Student Assistance Authority to consider the *combined income* of all cosigners (like parents or guardians) when evaluating a student’s application, rather than assessing each cosigner’s income individually. This directly affects students who rely on multiple cosigners to meet the program’s income requirement - preventing denial when individual cosigners fall short but their combined income meets the threshold. The key provision amends the program’s rules to explicitly mandate this combined income calculation for eligibility decisions. The bill takes effect immediately upon enactment.