NJ S4432

Establishes the Air Traffic Controller Loan Redemption Program to forgive student loans for eligible air traffic controllers working at approved New Jersey airports or FAA facilities, with redemption of 16% after year one, 26% after year two, 28% after year three, and 30% after year four, capped at $100,000 total

Requires participants to be New Jersey residents who begin FAA employment after the bill's effective date, with annual caps of $16,000, $26,000, $28,000, and $30,000 for each respective year of service

Creates an aviation grant program through the Secretary of Higher Education to support public colleges participating in the federal Unmanned Aircraft Systems Collegiate Training Initiative and establish non-engineering aviation degree programs with air traffic control coursework

Authorizes grants to establish a Center for the Study of Unidentified Aerial Phenomena at participating institutions, with preference given to institutions in first-class counties (Hudson County)

Appropriates $3.5 million from the General Fund: $1 million to the Higher Education Student Assistance Authority for the loan redemption program and $2.5 million annually to the Office of the Secretary of Higher Education for aviation education grants