4. A taxpayer with gross income of $200,000 or less shall be allowed a deduction, not to exceed $2,500, from the taxpayer's gross income for the taxable year in the amount of principal and interest payments paid on a student loan under the New Jersey College Loans to Assist State Students Loan Program established pursuant to N.J.S.18A:71C-21.
N.J. Stat. Ann. § 54A:3-13
Allowable deduction in the amount of student loan principal, interest payments
Known as the New Jersey College Affordability Act
The act spans §§ 54A:3-1 to 54A:3-9 (15 sections).
L.2021, c.128, s.4.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.