Establishes the "Neighborhood Scholar Revitalization Pilot Program" to attract college graduates to targeted neighborhoods in Camden, Trenton, Jersey.
The bill establishes the "Neighborhood Scholar Revitalization Pilot Program" to revitalize declining neighborhoods in four New Jersey cities by attracting college graduates with student loan debt. Each city can offer up to 200 graduates a financial incentive to reside in targeted neighborhoods for at least 24 months. To qualify, graduates must have a degree from an accredited institution and at least $7,000 in student loan debt. Upon completing the residency period, participants receive a $7,000 reimbursement towards their student loans.
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