Your child is in college and Federal financial aid isn’t enough to pay for tuition. You’re presented with an application for an NJCLASS loan issued by HESAA (Higher Education Student Assistance Authority) which your child asks you to cosign since these loans are based on credit worthiness. Your kid explains to you that their financial aid advisor said these are great loans with low interest rates. You happily sign the promissory note to make your child happy. You go about your business happy to … [Read more...]