NJ A3255

Establishes the Large Animal Veterinarian Loan Redemption Program within the Higher Education Student Assistance Authority to address veterinarian shortages in underserved areas

Redeems 20% of eligible student loan principal and interest for each full year of service as a large animal veterinarian in a State-designated underserved area, up to 100% after five years

Requires participants to be New Jersey residents, graduates of an approved veterinary school, have completed a professional residency program with a recommendation, and commit to practicing in an underserved area

Program participants are matched to underserved areas by the Authority's Executive Director in consultation with the Secretary of Agriculture

Contracts may be nullified by written notification from the participant, with remaining loan balance becoming the participant's responsibility; death or permanent disability terminates obligations with pro-rated redemption after two years of service