NJ A5712

Creates the Air Traffic Controller Loan Redemption Program to forgive student loans for eligible air traffic controllers who work at New Jersey airports or FAA facilities serving the state, with redemption scaling from 16% after year one to 30% after year four, capped at $100,000 total

Loan redemption amounts are capped annually: $16,000 for year one, $26,000 for year two, $28,000 for year three, and $30,000 for year four of service

Appropriates $1 million to the Higher Education Student Assistance Authority to fund the loan redemption program, with up to 5% allowed for administrative costs

Establishes a $2.5 million grant program through the Secretary of Higher Education to support public institutions participating in the federal Unmanned Aircraft Systems Collegiate Training Initiative and the FAA's Air Traffic-Collegiate Training Initiatives Program

Grants may fund the establishment of a Center for the Study of Unidentified Aerial Phenomena and non-engineering aviation degree programs teaching air traffic control and aviation administration, with preference given to institutions in first-class counties