New Jersey A808 provides tax credits for employers who pay education loan debt for STEM graduates from New Jersey public institutions.
New Jersey A808 aims to retain STEM graduates from New Jersey public institutions of higher education by providing tax credits to employers who pay their education loan debt. Employers can receive credits for paying up to $5,000 per year for each qualified STEM employee. A qualified STEM employee is a full-time resident of New Jersey, employed in the state, and holds a degree in Science, Technology, Engineering, or Mathematics (STEM) from a New Jersey public institution. The Higher Education Student Assistance Authority will identify and certify these graduates.
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