New Jersey Administrative Code
Title 9A - HIGHER EDUCATION
Chapter 10 - STUDENT LOAN AND COLLEGE SAVINGS PROGRAMS
Subchapter 5 - STEM LOAN REDEMPTION PROGRAM
Section 9A:10-5.3 - Eligibility requirements for Program participation
Universal Citation: NJ Admin Code 9A:10-5.3
Current through Register Vol. 57, No. 6, March 17, 2025
(a) To be eligible for participation in the Program, an applicant must:
1. Be a New Jersey
resident and maintain residency in the State during Program
participation;
2. Be a graduate of
an approved STEM degree program at an institution of higher education located
in New Jersey;
3. Have an
outstanding balance on a qualifying student loan and not be in default on any
qualifying student loan;
4. Have
been employed full-time in a designated high-growth STEM occupation in the
State for a minimum of four years prior to initial application to the program
and be employed thereafter for an additional one to four years in a designated
high-growth STEM occupation in the State;
5. Not have previously been selected for
participation in the Program; and
6. Provide certification from the applicant's
employer agreeing to make a payment to the Authority of at least a 100 percent
match of the State-funded loan redemption benefit under the Program at the
conclusion of each year of employment completed by the applicant in a
designated high-growth STEM occupation.
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