NJ A4089

Creates a student loan redemption program for New Jersey residents teaching in bilingual education or English as a second language programs at public schools where at least 10% of students are enrolled in such programs.

Provides loan forgiveness of 25% of eligible student loan expenses (up to $5,000) per year of consecutive full-time teaching, with a maximum total benefit of $20,000 over four years.

Gives priority to teachers employed at low-performing public schools, defined as schools where combined "not yet meeting" and "partially meeting" assessment scores exceed 40% in both language arts and math, or exceed 65% in either subject.

Requires the Higher Education Student Assistance Authority to maintain a public list of qualifying low-performing schools and submit annual reports to the Governor and Legislature by August 1 each year.

Allows contract nullification upon participant's written request, death, total and permanent disability, or extreme hardship, with the participant assuming responsibility for any unredeemed loan balance.