Bill > A1634

Introduced Session

This bill establishes a Grow NJ Kids Student Loan Waiver Program within the Higher Education Student Assistance Authority. Grow NJ Kids is New Jersey's quality rating improvement system designed to raise the quality of child care and early learning programs. Under the bill, the authority will reduce the principal monthly loan repayment amount for an eligible New Jersey College Loans to Assist State Students (NJCLASS) Loan Program borrower who has a child enrolled in an approved program by the amount of the approved program's monthly tuition. The bill defines an "approved program" as a licensed child care center, a school- or center-based preschool program, a Head Start program, or a registered family child care provider which has achieved a Grow NJ Kids rating of at least three. The borrower will pay any principal monthly loan repayment amount that exceeds the amount waived by the authority plus any interest. The bill provides that the State will appropriate such amounts as may be necessary to offset the loan principal amounts waived under the program. In order to be eligible to participate in the program, an applicant must: · be a resident of the State; · provide evidence of his child's enrollment in an approved program; · submit an application to participate in the program to the authority in a time and manner as determined by the authority; and · satisfy any additional criteria the authority may establish. Under the bill, the authority will provide: · each licensed child care center, school- or center-based preschool program, Head Start program, or registered family child care provider with information on the Grow NJ Kids initiative, including information on how to attain a Grow NJ Kids rating; and · each NJCLASS Loan Program borrower with information on the Grow NJ Kids Student Loan Waiver Program.

AI Summary

Committee Categories

Pam Lampitt (D)*, 

Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee (on 06/02/2021)

Official Document