NJ A1640

Creates the Grow NJ Kids Student Loan Voucher Program within the Higher Education Student Assistance Authority to provide monthly vouchers covering the principal loan repayment amount for eligible student loan borrowers with children in qualified childcare programs.

Eligible childcare programs must have a Grow NJ Kids rating of at least three, including licensed childcare centers, school- or center-based preschools, Head Start programs, and registered family childcare providers.

Income eligibility limits are $75,000 for individuals or $150,000 for combined household income, and applicants must be New Jersey residents with a child enrolled in an approved program.

Participants must notify the authority of any changes in childcare tuition, enrollment status, or if their child transfers to a program without the required Grow NJ Kids rating.

The authority must provide program information to all childcare providers and the general public, and approved programs are required to publicize the voucher program within their facilities and on their websites.