Requires annual report on New Jersey College Loans to Assist State Students (NJCLASS) Loan Program to include information on borrower delinquency and administrative wage garnishments.

This bill (S 1625) requires the NJCLASS Loan Program administrator to include specific borrower data in its annual report to the Governor, Senate President, and Assembly Speaker. The report must detail the number of loans 90+ days delinquent (by income level), administrative wage garnishment activity (orders initiated, issued, and amounts collected), and default statistics (by income level). It also mandates reporting on loan forgiveness requests (due to death/disability), deferment requests, and forbearance requests. The bill directly affects New Jersey students who borrow through the NJCLASS program and the state agency managing the loan program. This change aims to increase transparency around borrower financial challenges and collections practices.