New Jersey Administrative Code
Title 9A - HIGHER EDUCATION
Chapter 10 - STUDENT LOAN AND COLLEGE SAVINGS PROGRAMS
Subchapter 5 - STEM LOAN REDEMPTION PROGRAM
Section 9A:10-5.2 - Definitions

Universal Citation: NJ Admin Code 9A:10-5.2
Current through Register Vol. 56, No. 18, September 16, 2024

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise:

"Approved STEM degree program" means an undergraduate or advanced degree program required for a participant to engage in a designated high-growth STEM occupation.

"Authority" means the Higher Education Student Assistance Authority.

"Designated high-growth STEM occupation" means the designated list of occupations, to be posted on the Authority's website and updated every two years by the Authority, in consultation with the Department of Labor and Workforce Development. The list shall include occupations with projected growth in New Jersey of at least 10 percent, based on the most recently reported data from the United States Bureau of Labor Statistics, or occupations the Authority deems important to the State's strategic economic goals. Medical doctor and teaching professions are not high-growth STEM occupations. The initial list of designated high-growth STEM occupations is as follows:

1. Operations research analyst;

2. Statistician;

3. Mathematician;

4. Software developer, applications;

5. Web developer;

6. Computer systems analyst;

7. Biomedical engineer;

8. Computer and information systems manager;

9. Geological and petroleum technician;

10. Geoscientist, except hydrologist and geographer;

11. Environmental engineer;

12. Hydrologist;

13. Actuary;

14. Software developer/systems software;

15. Physicist; and

16. Biochemist and biophysicist.

"Eligible qualifying loan expenses" means the cumulative outstanding balance of qualifying student loans, including interest paid or due, covering the cost of attendance at an institution of higher education for an undergraduate or advanced degree from an approved STEM degree program.

"Executive Director" means the Executive Director of the Higher Education Student Assistance Authority.

"Program" means the STEM Loan Redemption Program established pursuant to N.J.S.A. 18A:71C-66 et seq.

"Program participant" means a person who contracts with the Authority to maintain employment in a designated high-growth STEM occupation in exchange for the redemption of eligible qualifying loan expenses provided under the Program.

"Qualifying student loan" means a State or Federal loan for the actual costs paid for tuition and reasonable education and living expenses relating to obtaining an academic degree in an approved STEM degree program.

"STEM" means science, technology, engineering, and math.

"Total and permanent disability" means a physical or mental disability that is expected to continue indefinitely or result in death and renders a Program participant unable to perform that person's employment obligation, as determined by the Executive Director, or designee.

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