NJ S5017

Establishes the Allied Health Care Professional Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to redeem student loan debt for eligible allied health professionals who work full-time in New Jersey for up to four one-year periods

Covers a broad range of allied health professions including respiratory specialists, phlebotomists, occupational and physical therapists, certified nursing assistants, advance practice registered nurses, pharmacy technicians, home health aides, and other clinical support professionals (excludes physicians)

Requires participants to be New Jersey residents, hold appropriate licensure or certification, complete at least one year of full-time employment before receiving loan redemption, and serve a three-month probationary period

Prioritizes applicants with job offers at health care facilities, those in professions with employee shortages, applicants with incomes up to 138% of the Federal Poverty Level, and those who graduated from New Jersey institutions

Participants who nullify their contract before completing two years of service must repay 50% of the redeemed loan amount within one year; obligations are waived in cases of death, total permanent disability, or extreme hardship