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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
