Establishes "Succeed in New Jersey" student loan reimbursement program for certain New Jersey residents employed in designated fields.
This bill establishes New Jersey's "Succeed in New Jersey" program, which reimburses student loan debt for eligible residents working in designated fields. To qualify, applicants must be New Jersey residents (living there for at least 3 months), hold a U.S. undergraduate degree (since 2014), work in a field designated by the Department of Labor (addressing workforce shortages or providing public benefit in low-wage sectors), and earn under 500% of the federal poverty level. Reimbursement amounts are income-based: up to $6,000 annually for those under 300% poverty, $4,000 for 300-400%, and $2,000 for 400-500%, with a total annual state spending cap of $10 million. Participants must maintain residency, stay current on loans, and verify employment/income yearly for up to three years.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024
Last action Jan 9, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
1
Key actions
0
Committee
0
Jan 9, 2024
Introduced
Introduced in the Assembly, Referred to Assembly Higher Education Committee
lower
3 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Bill Moen
DDemocratic
P
Gary Schaer
DDemocratic
P
Verlina Reynolds-Jackson
DDemocratic
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