Establishes Teaching Scholars Loan Redemption Program in Higher Education Student Assistance Authority.
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes the Teaching Scholars Loan Redemption Program within the Higher Education Student Assistance Authority. The program aims to address New Jersey’s shortage of educators by providing loan redemption to students pursuing degrees in exchange for a commitment to teach in public schools. Eligible students must meet specific academic and financial requirements, and the program will provide up to $50,000 in loan redemption over five years for full-time teaching service. Participants can choose to terminate their service agreement and repay the loan themselves.
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