Ruiz Bill to Establish NJCLASS Loan Redemption Program Clears Committee

Trenton –Legislation sponsored by Senate Education Chair Senator M. Teresa Ruiz, which would establish an NJCLASS loan redemption program for teachers, cleared the Senate Higher Education Committee today.

“In recent years districts have had a difficult time filling positions across a variety of topics from ESL to mathematics,” said Senator Ruiz (D-Essex). “By creating a loan redemption program, specifically targeted at our underperforming schools and in these high-demand subject areas, we can attract teachers to the posts that need them the most. This legislation will not only benefit the districts struggling to find instructors, but also provide financial relief to new graduates working to repay their student loans.”

The bill, S-969, would establish a NJCLASS loan redemption program in the Higher Education Student Assistance Authority (HESAA) to provide relief for teachers in high-need fields serving in underperforming school districts.

Under the bill, the redemption of loans would range from 15 to 30 percent of principal and interest of a participant’s NJCLASS loan amounts depending on how many years they agree to teach in an underperforming school.

The bill was released from committee by a vote of 5-0.