Establishes New Jersey Student Emergency Aid Program in Higher Education Student Assistance Authority.

This bill creates the New Jersey Student Emergency Aid Program to provide one-time financial grants to undergraduate students at public colleges and universities facing unexpected crises. The program covers essential living expenses such as food, housing, and childcare, but explicitly excludes payment for tuition, fees, or student loans. A new revolving fund will be established to manage these grants, initially seeded with $1.5 million from the state's general fund. The Higher Education Student Assistance Authority will set specific rules for eligibility and distribution, while colleges must report annually on how the aid is used and its impact on student retention.