NJ S3631

Creates the Allied Health Care Professional Loan Redemption Program in New Jersey to redeem student loan debt for eligible healthcare workers in exchange for up to four years of full-time service at licensed health care facilities.

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

Requires participants to be New Jersey residents, hold a degree or credential in an allied health care field, maintain state licensure/certification, complete at least one year of full-time employment before receiving redemption funds, and serve a three-month probationary period.

Establishes priority selection criteria when funds are limited, favoring applicants with job offers at health care facilities, those in shortage professions, individuals at or below 138% of the Federal Poverty Level, and graduates of New Jersey institutions.

Requires the Higher Education Student Assistance Authority to submit annual reports to the Governor and Legislature by August 1 detailing participant numbers, redemption amounts, demographic profiles, and the program's effect on allied health workforce shortages.