Trenton, NJ – New Jersey lawmakers have proposed a bill, S-3887, aimed at expanding the NJCLASS Teacher Loan Redemption Program to provide student loan forgiveness for teachers across all subject areas. Sponsored by Majority Leader Ruiz and Senator Nilsa Cruz-Perez, the bill seeks to address the student loan burden faced by teachers and attract qualified educators to high-need areas.
Under the proposed program, loan forgiveness would be granted in a three-tier system based on the teacher’s field and the school’s performance. All participants would be eligible for loan forgiveness for up to four years of service.
The highest tier of the program would offer up to $5,000 per year in loan forgiveness for teachers working in high-need fields within low-performing schools. Tier two would provide up to $3,750 per year for teachers in high-need fields, regardless of the school’s performance level. Tier three would encompass all teachers with student loans and offer up to $2,500 per year in loan forgiveness.
Senator Cruz-Perez (D-Camden/Gloucester) emphasized the importance of targeted efforts to provide relief for recent graduates burdened by student loans while addressing staffing challenges in schools. The proposed expansion aims to support both teachers struggling with loan repayments and school districts in need of qualified educators.
The bill is expected to alleviate the financial strain on aspiring teachers and encourage more individuals to pursue careers in education, ultimately benefiting the state’s education system and the next generation of leaders.