New Jersey Statutes 18A:71C-5. Extension and refinancing of federal loans
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Terms Used In New Jersey Statutes 18A:71C-5
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
18A:71C-5. Extension and Refinancing of Federal Loans.
Any loan made under this article may be extended or refinanced at the discretion of the lender without affecting the obligation of the authority hereunder for such period and under such terms as permitted under 20 U.S.C.s.1071 et seq. and implementing rules and regulations, and any loan may be reduced at any time at the option of the borrower.
L.1999,c.46,s.1.