NJ S3544

Creates the Teaching Scholars Loan Redemption Program within New Jersey's Higher Education Student Assistance Authority to recruit high-achieving high school graduates into teaching careers at public schools.

Requires participants to be New Jersey residents, graduate from a state high school, enroll full-time at a New Jersey college or university, and apply for all available state and federal grants and scholarships before receiving program loans.

Provides loans up to $40,000 for undergraduate study and an additional $10,000 for graduate study, with a minimum of 100 high school graduates selected annually, subject to available funding.

Redeems up to $10,000 in loans for each full year of service as a public school educator, with a maximum total redemption of $50,000 over five years of service.

Allows participants to exit the program by assuming full repayment responsibility, and nullifies service obligations in cases of death, permanent disability, or extreme hardship.