Establishes the Grow Your Own Teacher Loan Redemption Program in HESAA to encourage high school graduates from teacher-shortage districts to teach in.
The bill establishes the Grow Your Own Teacher Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA). The program aims to incentivize high school graduates from districts with teacher shortages to return and teach in those districts. Eligible participants must be New Jersey residents, have graduated from or lived in a teacher-shortage district for over five years, and have student loan debt. HESAA will redeem up to $10,000 of eligible student loan expenses per year for up to five years of teaching, totaling a maximum of $50,000.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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