Bill > A3330

This bill establishes the New Jersey College Loans to Assist State Students (NJCLASS) Teacher Loan Redemption Program, administered by the Higher Education Student Assistance Authority, to help teachers in New Jersey pay off their student loans. Under this program, individuals who borrowed money through the NJCLASS program, are New Jersey residents, and begin teaching in a public or nonpublic school in the state after the bill becomes law can have a portion of their loans redeemed. To participate, they must sign a contract with the authority, agreeing to a specified number of years of service as a teacher, which is defined as providing direct classroom teaching or related educational services. For each full year of service, 10% of the principal and interest of their NJCLASS loans will be redeemed by the state. The program also outlines conditions for nullifying the contract, such as by written notification and assuming full repayment, or in cases of death, total and permanent disability, or extreme hardship. The authority is tasked with creating the necessary rules and regulations to implement this program.

Education

https://www.njleg.state.nj.us/bill-search/2026/A3330