A 3330
Establishes loan redemption program for teachers to redeem loan amounts received under the New Jersey College Loans to Assist State Students Loan Program through employment in public or nonpublic schools in New Jersey.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates the New Jersey College Loans to Assist State Students (NJCLASS) Teacher Loan Redemption Program. It allows teachers working in public or nonpublic schools in New Jersey to redeem a portion of their existing NJCLASS student loans in exchange for their service. Participants must meet specific criteria, including being a recent NJCLASS loan borrower and employed as a teacher in a qualifying school. The program would redeem 10% of the loan principal and interest for each year of service.
Sponsors
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Primary sponsors
Sterley Stanley
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