Requires Higher Education Student Assistance Authority to suspend accrual of interest on certain New Jersey College Loans to Assist State Students Loan Program loans in deferment or forbearance.

This bill requires New Jersey's Higher Education Student Assistance Authority (HESAA) to stop interest from accruing on NJCLASS loans for borrowers approved for deferment or forbearance due to temporary disability, unemployment, or financial hardship between March 9 and September 9, 2020. It directly affects New Jersey college students with NJCLASS loans who qualify for these hardship-related repayment options during that specific period. The key provision mandates HESAA to suspend interest accumulation during approved deferment or forbearance periods - unlike standard practice where interest continues to accrue. This change provides immediate financial relief by preventing additional interest charges during the designated timeframe. The bill took effect immediately upon enactment.