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Bill > A2347
NJ A2347
NJ A2347Requires certain employers to provide certain employees with notifications concerning federal Public Service Loan Forgiveness program.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill requires an employer in the State who is designated as a qualifying employer under the federal Public Service Loan Forgiveness Program (PSLF), established under the "College Cost Reduction and Access Act," to provide information concerning the PSLF program to employees during the explanation of benefits conducted at the beginning of employment. Under this bill, a qualifying employer will be required to notify an employee about potential eligibility for the PSLF program and of the requirements to qualify for the PSLF program, which include, but are not limited to, the following:· employment by a qualifying employer;· a work schedule of at least 30 hours per week for the qualifying employer or a schedule that meets the qualifying employer's definition of full-time work, whichever is greater; · a balance with the William D. Ford Federal Direct Loan (Direct Loan) Program offered by the U.S. Department of Education or consolidation of other federal student loans into a Direct Loan;· repayment of loans under an income-driven repayment plan; and· payment of 120 payments.
AI Summary
This bill requires employers in New Jersey that qualify for the federal Public Service Loan Forgiveness Program (PSLF) to inform their employees about this program when they start their jobs. The PSLF, established by the "College Cost Reduction and Access Act," allows individuals working for qualifying public service employers to have their federal student loans forgiven after making 120 qualifying monthly payments. Employers must notify employees of their potential eligibility for PSLF and explain the key requirements, which include working for a qualifying employer for at least 30 hours per week (or the employer's definition of full-time, whichever is greater), having federal student loans through the William D. Ford Federal Direct Loan Program (or consolidating other federal loans into it), and making payments under an income-driven repayment plan.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Introduced, Referred to Assembly Labor Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A2347 |
| BillText | https://pub.njleg.gov/Bills/2026/A2500/2347_I1.HTM |
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