New Jersey Administrative Code
Title 9A - HIGHER EDUCATION
Chapter 10 - STUDENT LOAN AND COLLEGE SAVINGS PROGRAMS
Subchapter 4 - NURSING FACULTY LOAN REDEMPTION PROGRAM
Section 9A:10-4.8 - Waiting list for eligible applicants if program funds are exhausted

Universal Citation: NJ Admin Code 9A:10-4.8

Current through Register Vol. 56, No. 18, September 16, 2024

(a) In the event program funds are exhausted in a given fiscal year, eligible applicants will be placed on a waiting list for loan redemption in the date order in which the Authority received their applications.

1. The number of people on the waiting list will be limited to an amount equal to the number of participants newly funded in that fiscal year. Applicants who are not accepted into the program, or onto the waiting list, may reapply the following fiscal year.

(b) If program funds become available in a given fiscal year, the next eligible applicant on the waiting list will be notified of the availability of said funds and his or her potential eligibility for program participation.

(c) If program funds do not become available in a given fiscal year, eligible applicants on the waiting list will carry over to the next fiscal year for potential eligibility for program participation, subject to program funding.

(d) While an applicant may change employment to another eligible institution, he or she must be continuously employed as a full-time faculty member at an eligible institution to remain on the waiting list.

(e) When an eligible applicant on the waiting list is notified of his or her potential eligibility for program participation, the applicant shall submit certification of continuous employment as a full-time faculty member at an eligible institution to the Student Loan Office.

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