Participants May Receive Up to $20,000 in Loan Redemption to Strengthen the K-12 Teacher Workforce in New Jersey
TRENTON, NJ — The application period is now open for the New Jersey Teacher Loan Redemption Program. The Higher Education Student Assistance Authority (HESAA) administers the program as part of the ongoing efforts of the Murphy Administration to strengthen the K-12 teacher workforce across the State of New Jersey. Eligible participants may receive up to $20,000 in student loan redemption. This application cycle is now open to teachers hired as early as January 1, 2009.
The program aims to recruit and retain educators who teach high-need subjects in eligible New Jersey schools. To qualify, an educator must teach in one or more of the following subject areas: mathematics, science, special education, English as a Second Language (ESL), world languages, or Career and Technical Education. Educators must teach these subjects at one of the
schools designated under the law.
"New Jersey teachers help educate future generations of students who will go on to pursue postsecondary degrees, start careers, participate in their communities, and build a family here in our state,"
said Governor Phil Murphy. "By implementing initiatives such as the New Jersey Teacher Loan Redemption Program to promote robust staffing in our schools, we are working to maintain our standing as one of the best states in the nation for K-12 education."
HESAA Executive Director Margo Chaly, Esq. added, "The New Jersey Teacher Loan Redemption Program strengthens both recruitment and retention of educators who teach high-need subjects in eligible New Jersey schools. This program reduces teacher student loan burdens while helping school districts fill critical vacancies, benefiting students statewide."
"The Teacher Loan Redemption Program is a win for New Jersey teachers, students, and school communities alike,"
said Education Commissioner Kevin Dehmer. "By easing the burden of student loan debt, we're not only supporting the dedicated professionals already in our classrooms – we're also helping districts attract and retain the high-quality educators our students deserve. This initiative is yet another example of Governor Murphy's commitment to bolstering the teacher workforce and strengthening public education across the state."
For the current application period, a total of $5 million in funding is available for this round of applicants, with $1 million allocated for teachers hired on or after January 1, 2024 and the remaining funds for teachers hired between January 1, 2009 and December 31, 2023.
All applicants must be a New Jersey resident, hold a current teaching certification from the New Jersey Department of Education, and be employed to teach in a high-need subject at the time of hire.
The program redeems up to $20,000 in outstanding qualified student loan balances. Annual payments equal 25% of the principal and interest of eligible student loan expenses, up to $5,000 per year over four years. Approved applicants must enter a written contract with HESAA to participate in the program. The contract will specify the service obligation (up to four academic years) and the total amount of student loans to be redeemed by HESAA in exchange for that service.
The application period for the New Jersey Teacher Loan Redemption Program opened on May 15 and will close at the end of the day on June 15, 2025. To learn more and apply, visit
www.hesaa.org/Pages/NJTLRP.aspx.
###
HESAA, the Higher Education Student Assistance Authority, is the New Jersey state authority with the sole mission of providing students and families with financial and informational resources for students to pursue their education beyond high school. For more information, visit
https://www.hesaa.org.
| 
