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Bill to create N.J. teacher loan forgiveness program clears Senate committee
Legislation designed to establish a loan redemption program under which teachers could have a portion of their undergraduate loans forgiven by the state in exchange for work at a school in New Jersey was approved Monday by the state Senate Education Committee.
The bill (S-543) would create the New Jersey College Loans to Assist State Students (NJCLASS) Teacher Loan Redemption Program in the Higher Education Student Assistance Authority. The program would allow loan recipients to redeem 10 percent of their NJCLASS loan amounts for each year of service as a teacher in a school in New Jersey. (Hester, New Jersey Newsroom)
