NJ S1945

Creates the Volunteer Emergency Responder Loan Redemption Program within New Jersey's Higher Education Student Assistance Authority to help repay student loans for active volunteer firefighters, first aid/rescue squad members, and Office of Emergency Management volunteers.

Eligible participants must be New Jersey residents, active volunteer emergency responders in good standing, and have completed an undergraduate degree or certificate at an in-state institution.

Maximum loan redemption totals $16,000 over three years: up to $4,000 (25% of original loan) in year one, up to $4,000 (25%) in year two, and up to $8,000 (50%) in year three following graduation.

Participants must provide annual sworn statements from their fire company chief or equivalent official confirming active member status; partial-year service does not qualify for benefits.

Contracts may be nullified upon participant death, total permanent disability, or extreme hardship, with the authority terminating its obligations under the agreement.