NJ A3750

Creates the New Jersey County College Remissible Student Loan Program to provide loans covering tuition, educational fees, and textbooks not covered by grants or scholarships for county college students.

Loans are completely forgiven if the student completes an associate degree within three academic years or less, including forgiveness of any interest paid or due.

Eligible borrowers must be U.S. citizens or legal residents, New Jersey residents, enrolled at least part-time in a county college, and must first apply for all available grants and scholarships including completing FAFSA.

Loans are fully discharged upon the death or total permanent disability of the student borrower; temporary disability qualifies for deferment of principal and interest payments.

Appropriates $1 million from the General Fund to establish the New Jersey County College Remissible Student Loan Program Fund, administered by the Higher Education Student Assistance Authority.