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Funding

Whether you're looking for startup capital or considering a loan to finance the expansion of your business, a variety of opportunities are available.

New Jersey STEM Loan Redemption Program

Rolling Application

Deadline:

Start Date:

Eligibility

Employers:

  • Be registered to do business in New Jersey
  • Provide a matching $1,000 payment per participating employee for each year (up to four years) the employee works at their business and remains in the program
  • Certify that the participating employees work in an approved occupation each year

Employees:

  • Be residents of NJ and maintain domicile in the State during their participation in the program
  • Have earned a degree from an approved STEM degree program from an institution of higher education in NJ
  • Have graduated on or after December 14, 2018
  • Have worked full-time in an approved high-growth STEM occupation at a NJ employer for a minimum of four years before applying for the program
  • If approved, must work full-time for an additional one to four years in an approved high-growth STEM occupation at a NJ employer in the program

Eligible occupations are listed in the Higher Education Student Assistance Authority (HESAA) eligible high-growth STEM occupations list

Benefits

  • Up to $8,000 in student loan redemption while only contributing half that amount
  • HESAA matches each $1,000 contribution from participating employers for up to four years

Learn More