New Jersey A 587: Establishes weatherization and energy efficiency pilot program to address open cockloft space between certain buildings; appropriates $30 million.

Bill Text

A587 

ASSEMBLY, No. 587 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION

Sponsored by:

Assemblyman GARY S. SCHAER

District 36 (Bergen and Passaic)

Assemblyman WILLIAM F. MOEN, JR.

District 5 (Camden and Gloucester)

Assemblywoman VERLINA REYNOLDS-JACKSON

District 15 (Hunterdon and Mercer)

SYNOPSIS

���� Establishes "Succeed in New Jersey" student 
loan reimbursement program for certain New Jersey residents employed in 
designated fields.

CURRENT VERSION OF TEXT 

���� Introduced Pending Technical Review by Legislative 
Counsel.

�� 

An Act establishing a student loan reimbursement program for 
certain New Jersey residents and supplementing chapter 71C of Title 18A of the 
New Jersey Statutes. 

���� Be It 
Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� a.��� There is 
established the �Succeed in New Jersey� student loan reimbursement program 
within the Higher Education Student Assistance Authority. The purpose of the 
program is to alleviate the burden of student loan debt for recent college 
graduates who are residents of New Jersey and are employed in certain fields 
designated by the Department of Labor and Workforce Development pursuant to 
section 2 of this act.

���� b.��� The program shall 
provide loan reimbursement awards to eligible applicants who have an 
outstanding student loan balance under a federal or New Jersey student loan 
program.� To be eligible for loan reimbursement under the program, an applicant 
shall:

���� (1)�� be a resident of New 
Jersey and have resided in the State for a period of at least 3 months 
immediately prior to applying for the program;

���� (2)�� be a United States 
citizen or eligible noncitizen, as determined under 20 U.S.C. s.1091;

���� (3)�� have earned an 
undergraduate degree from an institution of higher education located in the 
United States in or after December 2014;

���� (4)�� apply for the program 
within four years of obtaining an undergraduate degree; 

���� (5)�� have an outstanding 
student loan balance under a federal or New Jersey student loan program; 

���� (6)�� be employed in a field 
designated by the Department of Labor and Workforce Development pursuant to 
section 2 of this act, and maintain a primary work location in New Jersey; and

���� (7)�� have an income that does 
not exceed 500 percent of the most recent federal poverty guidelines.

���� c.���� The amount of a loan 
reimbursement award for an eligible applicant shall be determined pursuant to 
section 3 of this act, and shall be used to reimburse the applicant for a 
portion of his student loan payments under a federal or New Jersey student loan 
program for a maximum period of three years.� 

���� 2.��� a.�� The Department of 
Labor and Workforce Development shall designate up to five fields of employment 
that qualify an eligible applicant for student loan reimbursement under the 
�Succeed in New Jersey� program.� Each designated field shall meet at least one 
of the following criteria:

���� (1)�� the field currently has 
an unmet workforce need in the State; or

���� (2)�� the field provides a 
public good or benefit to the citizens of the State and is a low wage field.

���� b.��� Every three years, the 
Department of Labor and Workforce Development shall conduct a reassessment of 
its designated fields of employment under the criteria of subsection a. of this 
section.� Based on the reassessment, the department may determine to maintain 
or change its designation of eligible fields under the �Succeed in New Jersey� 
program.� 

���� 3.��� a.� An eligible 
applicant may receive loan reimbursement under the �Succeed in New Jersey� 
program for a maximum period of three years.� The amount of a loan 
reimbursement award for an eligible applicant shall be determined in accordance 
with the following:

���� (1)�� up to $6,000 in loan 
reimbursement per year for an eligible applicant with an income that is less 
than or equal to 300 percent of the most recent federal poverty guidelines;

���� (2)�� up to $4,000 in loan 
reimbursement per year for an eligible applicant with an income that is greater 
than 300 percent but less than or equal to 400 percent of the most recent 
federal poverty guidelines;

���� (3)�� up to $2,000 in loan 
reimbursement per year for an eligible applicant with an income that is greater 
than 400 percent but less than or equal to 500 percent of the most recent 
federal poverty guidelines.

���� b.��� The amount of a loan 
reimbursement award for an eligible applicant may not exceed the cost of the 
applicant�s actual student loan payments for that year.� 

���� c.���� Total State 
expenditures for student loan reimbursement awards under the �Succeed in New 
Jersey� program shall not exceed $10 million per year.

���� 4.��� a.�� As a condition of 
continued participation in the �Succeed in New Jersey� program for a maximum 
period of three years, a program particip