Establishes Grow Your Own Teacher Loan Redemption Program in Higher Education Student Assistance Authority.

This bill establishes New Jersey's "Grow Your Own Teacher Loan Redemption Program" through the Higher Education Student Assistance Authority (HESAA). It provides eligible teachers who graduated from high schools in districts with teacher shortages a chance to have up to $10,000 in student loan principal and interest repaid annually for five years of full-time teaching in those districts, totaling a maximum of $50,000. To qualify, participants must be New Jersey residents, have graduated from or resided in a designated shortage district for five years, be hired as a certified teacher there, and have outstanding student loans. The program is capped at $500,000 annually in state funding and requires a five-year teaching commitment as part of a formal contract with HESAA.