NJ Pay It Forward Fund
Pre-Qualify Today!
If you’re interested in applying for the NJ PIF program and enrolling in our Cyber security program, please fill out our questionnaire to determine your eligibility. Enter your information to get started below.
For more information about how NJ PIF can help you, see our FAQ below or please visit: The New Jersey Pay It Forward Fund.
0% interest, zero-fee loans with significant downside protections.
NJ PIF Program Perks
- You only pay back your loan if you earn above a minimum salary in a given month.
- You never pay back more than the original amount you borrowed.
- You don’t have to make any payments while you are training or during the three-month grace period.
Receive a living stipend to support you while enrolled in the training program.
Credit history not required - you are still eligible for the loan even with poor credit.
Repayment Scenarios
Student A
Student A borrows $10,000 to attend training. They complete the program but find a job that pays $35,000 per Year.
Student A has a household size of two, so their minimum income threshold for repayment is $39,465.
Student A’s monthly loan payments are $0 until their earnings increase above the minimum income threshold. If they don’t increase during the five-year loan term, Student A’s loan balance is forgiven in full.
Student B
Student A borrows $10,000 to attend training. They complete the program but find a job that pays $35,000 per Year.
Student B has a household size of three, so their minimum income threshold for repayment is $46,545.
Student B will repay $112 per month towards their loan. After five years, they have repaid $6,720 toward their loan and the remaining balance is forgiven.
Student C
Student C borrows $10,000 to attend training. They complete the program and find a job that pays $50,000 per year.
Student C has a household size of two, so their minimum income threshold for repayment is $39,465
Student C will repay $188 per month towards their loan. After just under 4.5 years, the full $10,000 loan and their obligation is fulfilled.
To Qualify for the NJ Pay It Forward Program, you must meet ALL of the following criteria:
- Enrolled in an eligible program (see below);
- Authorized to work in the U.S.;
- At least 18 years of age;
- No degree attained higher than a Bachelor’s degree within the U.S.;
- Resident of New Jersey OR “NJ Dreamer” with undocumented immigration status who meets the eligibility criteria for New Jersey State-funded student assistance pursuant to N.J.S.A. 18A:71B-2.1;
AND at least one of the following criteria:
- Your income in the past 12 months was equal to or below $65,000; OR
- You have received TANF, SNAP, SSI, or other public assistance within the past six
- months; OR
- You are a veteran; OR
- You are formerly incarcerated or involved in the criminal justice system