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NJ A1603
Bill
Status
1/9/2024
Primary Sponsor
Melinda Kane
Click for details
AI Summary
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Establishes the Grow NJ Kids Student Loan Voucher Program within the Higher Education Student Assistance Authority to cover monthly principal loan repayment amounts for eligible borrowers with children in qualifying child care programs
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Eligible borrowers must be New Jersey residents with individual income no greater than $75,000 or combined household income no greater than $150,000
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Qualifying child care programs must have achieved a Grow NJ Kids rating of at least three, including licensed child care centers, preschool programs, Head Start programs, and registered family child care providers
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Program participants must enter into a contract with the authority and notify them of any changes to child care enrollment or tuition amounts
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Requires the authority to provide program information to child care providers and the general public, and mandates approved programs publicize the voucher program to families
Legislative Description
Requires Higher Education Student Assistance Authority to issue vouchers in amount of monthly loan repayment amount for loan borrowers who have child enrolled in Grow NJ Kids-rated child care program.
Higher Education
Last Action
Introduced, Referred to Assembly Higher Education Committee
1/9/2024