NJ A2900

Creates the "Succeed in New Jersey" student loan reimbursement program within the Higher Education Student Assistance Authority to help recent college graduates working in designated fields pay off federal or New Jersey student loans for up to 3 years

Eligible applicants must be New Jersey residents for at least 3 months, have earned an undergraduate degree from a U.S. institution in or after December 2014, apply within 4 years of graduation, and have income not exceeding 500% of federal poverty guidelines

Reimbursement amounts are based on income: up to $6,000/year for those at or below 300% of federal poverty level, up to $4,000/year for 300-400%, and up to $2,000/year for 400-500%

Department of Labor and Workforce Development will designate up to 5 eligible employment fields based on unmet workforce needs or fields providing public benefit that are low-wage, with reassessment every 3 years

Total state expenditures for the program are capped at $10 million per year, and participants must maintain New Jersey residency and remain current on loan payments to continue receiving benefits