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�Financial Aid for�New Jersey High School Students and Families��2027-28 Academic Year

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The Mission

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Higher Education Student Assistance Authority

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Since 1959, the Higher Education Student Assistance Authority is the only State agency with the sole mission of providing students and families with the financial and informational resources to pursue their education beyond high school.

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Goals of Financial Aid Office

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Higher Education Student Assistance Authority

Primary goal is to assist students in paying for college and is achieved by:

Evaluating family’s ability to pay for educational costs
Distributing limited resources in an equitable manner
Providing a balance of grants/scholarships and other funds from the family’s own resources, such as savings or wages from school-sponsored student employment.
Implementing federal and state regulations for their college/university

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Higher Education Student Assistance Authority

Sources of Aid

The College/University (school-funded aid)
Federal
State of New Jersey
Private Scholarships from civic organizations (ex. local Rotary Club), parent’s employer, high school awards, etc.

Types of Financial Aid

Grants
Scholarships

_______________________

Paying for College with Student/Family Resources

Loans
School-sponsored student employment
Savings

Factors that may influence institutional aid, particularly merit-based aid�

Academics
Athletic Ability
SAT or ACT
Geographic Diversity
AP Courses
Legacy (child of alumni)
Activities
Talent (extracurricular or academic)
Gender/Ethnicity
H.S. Attended
Class Rank

Sources & Types of Aid

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Net Price Calculator

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Higher Education Student Assistance Authority

All institutions must have a net price calculator posted on their websites.
Students will be able to estimate the individual net price per institution.
Based on full-time, first degree/certificate-seeking undergraduate students.

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Types of Aid - Federal

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Higher Education Student Assistance Authority

Grants

Federal Student Aid for Award Year 2026-27

Pell $7,395 (max award)
SEOG $4,000 (max award)
TEACH $3,772 (max award)

. * 2027-28 award amounts typically released early 2027

Speaker Notes

PELL- SEOG

Named after senator Pell of Rhode Island, Pell is covered under the Higher Education Act of 1965
Pell is need based and all those with an EFC low enough are eligible so long as he or she has not received a first bachelor’s degree yet or are enrolled in a post baccalaureate program that leads to a teacher’s certification or licensure
Currently, the maximum amount is $5,920 and for 17 - 18. The amount of the award will depend on financial need, cost of attendance, and full time or part time status
The limit on Pell is 12 semesters in duration (roughly 6 years)
SEOG can range from $100 to $4000 – funding is provided by the US Department of Education to institutions to manage. Goes to most needy first and are very limited.

The TEACH Grant As a condition for receiving a TEACH Grant, you must sign a TEACH Grant Agreement to Serve in which you agree to (among other requirements) teach

in a high-need field
at an elementary school, secondary school, or educational service agency that serves students from low-income families
for at least four complete academic years within eight years after completing (or ceasing enrollment in) the course of study for which you received the grant.

Iraq and Afghanistan Service Grants

The Iraq and Afghanistan Service Grant is provided to certain students whose parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11. May not be eligible for a federal PELL Grant but must meet remaining eligibility requirements.

Max award for 17-18 after 10.1.17 is $5,529.28

https://studentaid.ed.gov/sa/about/announcements/sequestration#iraq-afghanistan

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Higher Education Student Assistance Authority

New Jersey State Grants 2026-27Academic Year (2027-2028 award amounts to be determined July 2027)
Award Type	Award Amounts
Full-Time TAG	$1,280 - $14,404
Part-Time TAG (community college only)	$320-$1,097
EOF (Educational Opportunity Fund)	Up to $3,050 includes college success support
NJ STARS (top 15.0% of high school class junior or senior year)	Tuition Only - community college only
NJ STARS II	Up to $2,500 per year – any NJ 4-year college
Governor’s Urban Scholarship (for top 5.0% of high school junior year)	Up to $1,000 $500 Persistency Bonus
NJ-GIVS (women and minorities)	Up to $2,000 - building trades only
Community College Opportunity Grant (CCOG)	Up to full tuition and approved fees --AGI between $0 and $65,000
Garden State Guarantee (GSG)	Up to full tuition and approved fees --AGI between $0 and $65,000
Summer TAG	Up to 75% of the Fall or Spring TAG amount
	2027-28 award amounts subject to change

2026-27 Award Amounts

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NJ STARS

NJ residents who rank in the top 15.0% of their class at either the end of junior or senior year of high school
Students must attain a cumulative GPA of 3.0 or higher at the start of the third semester at the county college to remain eligible for NJ STARS

NJ STARS II

Must have been NJ STARS eligible and have a family taxable income of less than $250,000
Must earn an associate degree and graduate with a 3.25 GPA or higher
May receive up to $2,500 annually for a TAG-eligible public or private 4-year NJ college or university

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Higher Education Student Assistance Authority

Types of Aid:�State Grants & Scholarships

Governor Christie signed Public Law 2012, Chapter 8 (PL 2012, c.8) into law on May 2, 2012 amending the NJ STARS and NJ STARS II Programs to make them more sustainable.

Limits the amount of the NJ STARS scholarship to tuition only. Budgetary footnote language has limited NJ STARS awards to tuition only since fall 2010 for new program participants.

Eligibility requirements are unchanged.

Must graduate in the top 15.0% of their high school graduating class.

NJ STARS-eligible students must file a FAFSA and complete the State grant record within established State deadlines.

Students may be eligible to receive NJ STARS awards for up to five semesters. Funds are not available to cover summer payments.

NJ STARS-eligible high school graduates may receive awards based on tuition only, after deducting any other federal and/or State grants and scholarships.

Students must attain a minimum cumulative grade point average (GPA) of 3.0 or higher at the start of the third semester of county college enrollment to remain eligible for NJ STARS. Summer courses are included in determining the cumulative GPA.�

Students must maintain continuous full-time enrollment unless on a medical leave that is approved by the county college prior to the completion of the semester for which the leave is being granted.

NJSTARS II

Eligibility Requirements as follows:

Earn an associate degree from their home New Jersey county college as an NJ STARS recipient. Must graduate with a cumulative GPA of 3.25 or higher.

Family income (taxable and untaxed income) must be less than $250,000 as derived by the FAFSA

Meet all other program eligibility requirements, including admission into a baccalaureate program at a New Jersey four-year public or private college or university that participates in the TAG program

Complete a FAFSA and the State grant record within established State deadlines

NJ STARS II benefits for non-renewal students were changed by Bill PL 2012, c.8

Non-renewal NJ STARS II students may receive up to $1,250 per semester, paid completely by the State, after all other sources of federal and State grants and scholarships are applied to tuition charges.

Open to all four-year TAG-participating institutions-public or private

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The Community College Opportunity Grant (CCOG) pays for the remaining cost of tuition and approved fees at a NJ county college after all other financial aid is applied.

To be eligible, students must:

Have a family adjusted gross income (AGI) between $0 and $65,000
Complete a financial aid application (FAFSA or NJ Alternative Financial Aid Application) each year
Be pursuing their first associate degree at a NJ community college
Take a minimum of six credits per semester
Make satisfactory academic progress throughout participation in the program.

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Types of Aid:�State Grants & Scholarships

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Higher Education Student Assistance Authority

The Garden State Guarantee (GSG) pays for the remaining cost of tuition and approved fees at a four-year, public institution of higher education in New Jersey during a student’s third (60-89 credits) and fourth (90-128 credits) years of study after all other financial aid is applied.

To be eligible, students must:

Have a family adjusted gross income (AGI) between $0 and $65,000
Complete a financial aid application (FAFSA or NJ Alternative Financial Aid Application) each year
Be pursuing their first bachelor’s degree at a New Jersey public, four-year college or university
Take a minimum of 12 credits per semester
Make satisfactory academic progress throughout participation in the program.

Types of Aid:�State Grants & Scholarships

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Student enrolls in a bona fide 3 + 1 major/degree program
Student completes the first two years at the community college and earns an associate degree
Pays community college tuition and fees for the associate degree and the third year of their bachelor’s degree program
Attends and pays the four-year institution's tuition �and fees in the final year of their bachelor’s degree
Must have a complete TAG record to be potentially

eligible for TAG, NJSTARS, and/or CCOG

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Higher Education Student Assistance Authority

3 + 1 Degree Completion Programs

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Options, Loans & Financing Shortfall Solutions

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Higher Education Student Assistance Authority

Monthly Payment Plans – offered by the college
Federal Direct Loan Program (1^st year dependent student)

Subsidized Loan $3,500 need based
Unsubsidized Loan $2,000 additional

2026-27- Federal Undergraduate Direct Loan interest rates�are 6.52%, plus a 1.057% origination fee

�2027-28 federal interest rates and fees change annually typically July 1, 2027

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2027-28 interest rates will be determined in June 2027

3 Educational Loan Options to Cover the Gap

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Option: 2026-27 Federal Parent PLUS loan

Interest rate of 9.07%
Capped at $20,000 annually per student - maximum per child $65,000

Option: 2026-27 Private Bank

Interest rate average of 11.20%

Option: State of NJ – NJCLASS

Can be used at colleges in or out of state

We also offer consolidation programs & a ReFi program that
Consolidation extends the repayment term to 25 – 30 depending on loan balance and takes the weighted average of the loans minus a tiny percentage
The ReFi program is a 10 year repayment term and is based on income, credit score and debt to income ratio (depending on credit score the APR will range from 4.90% to 6.90%
HESAA also now has a Repayment Assistance Program (RAP), which is designed to provide payment relief when all parties of the loan are facing financial hardship
During the RAP period, a payment on eligible NJCLASS loan shall be reduced to 10% fo the total of the household income of all of the parties to the loan that exceeds 150& of the federal poverty guidelines for their family size, with a minimum monthly payment of $5 per eligible loan
Interest that accrues during RAP will be paid by HESAA
RAP is available for NJCLASS loans with applications that were received on or after June 1, 2017 or are to be used for an academic term that begins on or after August 1, 2017
HESAA now also discharges the loan obligation for all parties to a NJCLASS loan in the event of death or total and permanent disability of the student beneficiary

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Higher Education Student Assistance Authority

HESAA.org

NJ Dreamer

Available by October 1, 2026

studentaid.gov

FAFSA

Available October 1, 2026

student.collegeboard.org/profile

CSS Profile

Available October 1, 2026

Applications to Access Aid

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Approximately 400 colleges and organizations use the CSS profile to determine how they will award institutional (school-funded) aid
Available October 1 each year and collects more comprehensive income, asset, and household information than the FAFSA
Uses 2025 & 2026 income for 2027-28
Mostly used by independent (private) colleges and universities

Register – Complete Application – Make payment – Submit

No application fee for income under $100,000
All others, $25 for first application and $16 for each additional

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Higher Education Student Assistance Authority

Application: CSS Profile

Website to apply for profile

https://cssprofile.collegeboard.org/�

Website to apply for Noncustodial Profile:

https://cssprofile.collegeboard.org/profile-for-parents

Participating CSS Institutions:

https://profile.collegeboard.org/PPI/participatingInstitutions.aspx

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Institutional Scholarship Applications�

Most Institutions have a scholarship application for their school use only.

Each institution has their own set deadlines and application questions.

Applications can be found on individual school financial aid websites.

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Used to provide consent to obtain Federal Tax Information and digitally sign the FAFSA

Student and all Contributors must create a StudentAid.gov Account (also known as an FSA ID) at www.studentaid.gov by clicking on “create account”

Student identifies who the Contributor(s) are and invites them via email to contribute to the FAFSA with an “Invite Code.” Each contributor must have their own separate StudentAid.gov username and password and will log in and provide the “Invite Code’ to begin.

Contributors include; Biological Parent, Stepparent, and Adoptive Parent (or a Student’s Spouse, if applicable)

Who Needs a StudentAid.gov Account?

If there are two parents who filed taxes jointly, only one parent
If the parents are divorced/separated, the parent who provided more financial support in the last 12 months
If married or unmarried/living together but did not file taxes jointly, then each parent will need an FSA ID

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Higher Education Student Assistance Authority

2027-28 StudentAid.gov

Account

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Higher Education Student Assistance Authority

2027-28 Documentation Requirements for parents without a Social Security number�

Acceptable ID documents • Foreign passport (valid, unexpired)

Government-issued national ID card with photo
Consular identification card (from parent’s home country)
Driver’s license issued by a foreign government
State-issued ID from U.S. territories for certain non-citizen parents
U.S. state ID or driver’s license (only if the parent has one despite having no SSN)
Any other official government-issued photo ID, provided it includes: – Full name
Date of birth
A clear photo
Valid expiration date

Not accepted • Birth certificates

School IDs
Medical cards
Employment badges
Any ID without a photo
Expired documents (unless federal guidance allows temporary exceptions)

Important Along with the ID, the system requires: • A selfie photo

Matching personal information (name and DOB must match the ID exactly)

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The 2027-28 FAFSA is available by October 1, 2026
Collects family’s personal and financial information used to calculate the student’s Student Aid Index (SAI). The SAI determines eligibility for federal student aid
File the FAFSA electronically online at www.studentaid.gov
FAFSA uses prior-prior year income information (2025 for award year 2027-28)
All contributors on the application (student and parent(s) or spouse) must provide consent to the IRS to obtain Federal Tax Information (FTI) to populate income and tax information with actual prior-prior year tax information

All prior-prior year tax information (2025) is already filed, allowing immediate retrieval.

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Higher Education Student Assistance Authority

Free Application for Federal �Student Aid (FAFSA)

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Contributors will be instructed to provide Federal Tax Information from their 2025 tax return to be used to determine the student's eligibility for federal student aid for Award Year 2027-28

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Higher Education Student Assistance Authority

2022

Get your 2025 tax return information for the

2027-28 form.

Federal Tax Information Consent

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Key Components of the FAFSA �

Student Contributor Section
Full Name and address
Social Security Number or ITIN Number
Date of Birth
Mobile phone number (optional)
Email address
College/Career plans – 20 Colleges

Student Consent and Assets
FTI (Federal Tax Information)

Student Status: Background
Dependent or Independent Determination
Student Special Circumstances
Student Unusual Circumstances
Social Security Number
Parent Contributor Section
Last Name
Date of Birth
Email address
Family size – FTI
Income and Assets
Federal Means-tested benefits

Medicaid, SSI, SNAP,
Free or Reduced Lunch
TANF, WIC, WITC QHP

Business and Farm will be considered as assets in the calculation of the SAI
Child Support received is an asset

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Higher Education Student Assistance Authority

WHO IS THE PARENT

If your parent was never married and does not live with your other legal parent, or if your parent is widowed or not remarried, answer the questions about that parent.

• If your legal parents (biological and/or adoptive) are not married to each other and live together, select “Unmarried and both parents living together” and provide information about both of them regardless of their gender. Do not include any person who is not married to your parent and who is not a legal or biological parent. Contact 1-800-433-3243 for assistance in completing questions 80-94.

• If your parents are married, select “Married or remarried.” Consistent with the Supreme Court decision holding Section 3 of the Defense of Marriage Act (DOMA) unconstitutional, same-sex couples must report their marital status as married if they were legally married in a state or other jurisdiction (foreign country) that permits same-sex marriage, without regard to where the couple resides. If your legal parents are divorced but living together, select “Unmarried and both parents living together.” If your legal parents are separated but living together, select “Married or remarried,” not “Divorced or separated.”

• If your parents are divorced or separated, answer the questions about the parent you lived with more during the past 12 months. (If you did not live with one parent more than the other, give answers about the parent who provided more financial support during the past 12 months or during the most recent year that you actually received support from a parent.) If this parent is remarried as of today, answer the questions about that parent and your stepparent.

• If your widowed parent is remarried as of today, answer the questions about that parent and your stepparent.

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Higher Education Student Assistance Authority

Applicants are instructed to log into “NJFAMS.HESAA.org” to create a user ID and password. In 3-5 business days, students can check their awards and eligibility status and complete any outstanding items on their “To Do” list. (There is no separate State Application, only a To-Do List in the state’s NJFAMS system).

Please note, all notifications will be sent to the student‘s email address listed on the FAFSA.

FAFSA Submission Summary

All Contributors will receive an individual

FAFSA Submission Summary

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Federal & State Verification

School is responsible for verifying information �for federal aid except for special circumstances
HESAA is responsible for verifying information for �State aid
Schools may send request for information by mail �or e-mail
Always check your school financial aid portal and NJFAMS account for required tasks. Note: The college and HESAA do not share documentation
Be sure to meet verification deadlines

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Students qualify as an NJ Dreamer if they are not eligible to file the FAFSA but attended an NJ high school for at least 3 years, graduated from an NJ high school (or got an NJ GED), and filed/will file an application to legalize their immigration status as soon as possible.
NJ Dreamers can apply for State Aid by completing the NJ Alternative Financial Aid Application in NJFAMS: https://njfams.hesaa.org
Register for your account by creating a User ID and Password
Login to complete the application by established State deadlines
Must meet all other need and/or merit-based eligibility criteria for State student aid

New Jersey Dreamers

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NJFAMS – �Menu��ALL Students must register

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Higher Education Student Assistance Authority

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Cost of Attendance

Tuition and fees
Food and housing
Books and supplies, equipment, transportation, �and miscellaneous personal expenses
Medical Insurance
Federal Loan Fees
Study abroad costs
Dependent care expenses
Expenses related to a disability
Expenses for cooperative education program

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Example Financial Need for Smith Family

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New Jersey Financial Aid Shopping Sheets

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Higher Education Student Assistance Authority

Help families with net cost transparency
Separates the Cost of Attendance, listing the direct and indirect costs
Grants and Scholarships (no repayment required, “free money”)
Student Net Costs in center box
College coordinated work-study employment
Federal Student Loans
If necessary, alternate loans

Aid Offer must replicate the Shopping Sheet

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Higher Education Student Assistance Authority

October - March	Complete FAFSA application, college search, college application process, and CSS Profile
February - May	Schools send financial aid offers
June - July	Schools send Fall semester bills
August	Bills are due

The Cycle of Financial Aid

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Other Resources

Campus-Administered Payment Plans
Campus Employment (including school-sponsored “work-study” jobs)
Specialized Campus Opportunities
Residential Advisors (RAs)
Student Ambassadors
Student Tour Guides
Internships/Co-ops

Outside Private Scholarships

Institution/college websites
Local library resources
Local businesses, civic organizations, and churches

Check with your High School guidance office

Parent’s employer(s)
www.hesaa.org
www.fastweb.com
www.collegeboard.org
www.mappingyourfuture.org

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HESAA awards a one-time scholarship ranging from �$2,000 - $6,000 to NJBEST beneficiaries who enroll in a New Jersey institution, depending on how long the plan has been open and total contributions prior to the student’s enrollment
NJ offers a matching grant up to $750 for new NJBEST 529 accounts for eligible contributors
State tax deduction is available for up to $10,000 in annual contributions to an NJBEST account��To Learn More: www.hesaa.org/pages/NJBESTHome.aspx

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Higher Education Student Assistance Authority

NJBEST 529 College Savings Plan

Resource

www.njbest.com

Speaker Notes

A 529 is a tax advantaged investment plan created for American families to encourage saving for the future higher education expenses of a designated beneficiary
Scholarship is awarded within the first year
Investments grow federal income tax free and withdrawals for qualified higher education expenses are free from federal income taxes
Qualified withdrawals made by New Jersey residents are not subject to New Jersey State Income tax
A 529 can affect the student’s federal financial aid award, however, a maximum of 5.64% of parental assets can have an impact on determining financial aid eligibility where as it is 20% (up to) for students
If a dependent student is the account owner (after July 1, 2009), the available balance is treated as a parental asset
Anything above $25,000 is considered in determining eligibility for State scholarship or grant

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New Jersey Financial Aid Workshops �& Webinars�

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Live Webinars

NJ Dreamer Schedule - www.hesaa.org/Pages/NJAlternativeApplication.aspx

FAFSA Schedule - www.hesaa.org/Pages/FAFSA.aspx

2027-2028

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Publications

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Higher Education Student Assistance Authority

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HESAA Services

Customer Care Center

Email: Outreach@hesaa.org

Call Center 609-584-4480 Monday – Thursday: 8:30 – 6 p.m.

Friday hours are 8:30 to 4:30 p.m.

Online Resources

www.hesaa.org

www.njgrants.org

www.njclass.org

https://njfams.hesaa.org

www.hesaa.org/pages/financialaidhub

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Higher Education Student Assistance Authority

QUESTIONS?

Thank you