Bill
Bill > A2675
NJ A2675
NJ A2675Establishes Volunteer Emergency Responder Loan Redemption Program in Higher Education Student Assistance Authority.
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 establishes the Volunteer Emergency Responder Loan Redemption Program in the Higher Education Student Assistance Authority. To be eligible to participate in the program, an applicant must:· be a resident of the State;· be an active volunteer emergency responder; · have completed an undergraduate degree or certificate program at an in-State institution of higher education; and· provide the authority with a sworn or official statement from the chief or other presiding officer with the volunteer fire company, the volunteer first aid, rescue or ambulance squad, or the county or municipal volunteer Office of Emergency Management, as appropriate, attesting that the applicant is an active member in good standing. The redemption of loans under the program would amount to $16,000 or the outstanding balance of eligible student loan expenses, whichever is less, in the following manner:· first year of active service following graduation from the degree or certificate program, an amount up to $4,000, but not to exceed 25 percent of the original qualifying loan;· second year of active service following graduation from the degree or certificate program, an amount up to $4,000, but not to exceed 25 percent of the original qualifying loan; and· third year of active service following graduation from the degree or certificate program, an amount up to $8,000, but not to exceed 50 percent of the original qualifying loan.
AI Summary
This bill establishes the Volunteer Emergency Responder Loan Redemption Program within the Higher Education Student Assistance Authority to help repay student loans for active volunteer emergency responders who are state residents and have completed an undergraduate degree or certificate program at an in-state institution. To qualify, applicants must provide proof of their active volunteer status from their fire company, first aid, rescue, ambulance squad, or Office of Emergency Management. The program offers loan redemption of up to $16,000 or the outstanding loan balance, whichever is less, with payments distributed over three years of active service: up to $4,000 in the first year, up to $4,000 in the second year, and up to $8,000 in the third year, with specific limits on the percentage of the original loan redeemed each year. The "Authority" refers to the Higher Education Student Assistance Authority, "eligible student loan expenses" are the principal and interest on loans for in-state undergraduate education, and a "volunteer emergency responder" is an active member of specific volunteer organizations whose duties include responding to emergencies. Participants can cancel their contract by repaying any redeemed loan amounts, and the service obligation may be nullified in cases of death, total and permanent disability, or extreme hardship.
Committee Categories
Education
Sponsors (4)
Last Action
Introduced, Referred to Assembly Higher Education Committee (on 01/13/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/A2675 |
| BillText | https://pub.njleg.gov/Bills/2026/A3000/2675_I1.HTM |
Loading...