The New Jersey Higher Education Student Assistance Authority recently sent a letter to school stakeholders notifying them of a recently enacted law, P.L. 2021, c. 384, which offers partial student loan redemption for certain teachers in high-need fields in eligible schools.
To participate in the program an applicant:
- Must be a New Jersey resident and maintain residency in the state during program participation.
- Must have an outstanding balance on an NJCLASS loan and not be in default on any NJCLASS loans.
- Must be certified by the New Jersey Department of Education to teach in New Jersey.
- Must have been hired on or after Jan. 18, 2022, to teach in a high-need field in an eligible school.
- Must be employed in a high-need field in an eligible school at the time of application.
School officials are asked to disseminate the above information to teachers, so they can learn if they are eligible for loan redemption that could pay off up to $20,000 of the balances on their NJCLASS loans.
Visit this page on loan redemption programs to learn more.