Bill Text: NJ A696 | 2024-2025 | Regular Session | Introduced
Bill Title: Establishes Volunteer First Responders Loan Redemption Program in Higher Education Student Assistance Authority.
Spectrum: Unknown
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Higher Education Committee [A696 Detail]
Download: New_Jersey-2024-A696-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman MICHAEL TORRISSI, JR.
District 8 (Atlantic and Burlington)
SYNOPSIS
Establishes Volunteer First Responders Loan Redemption Program in Higher Education Student Assistance Authority.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act establishing a loan redemption program for certain emergency responders 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. As used in this act:
"Authority" means the Higher Education Student Assistance Authority established pursuant to N.J.S.18A:71A-3.
"Eligible student loan expenses" means the cumulative outstanding balance of the principal and interest due on student loans used to cover the cost of attendance while enrolled in an undergraduate degree or certificate program at an in-State institution of higher education.
"Program" means the Volunteer First Responders Loan Redemption Program established pursuant to this act.
"Program participant" means a person who becomes a volunteer emergency responder following the effective date of this act, meets the criteria of subsection a. of section 2 of this act, and has executed a contract with the Higher Education Student Assistance Authority for participation in the loan redemption program.
"Volunteer emergency responder" means an active member in good standing of a volunteer fire company, a volunteer member of a duly incorporated first aid, rescue or ambulance squad, or a member of any county or municipal volunteer Office of Emergency Management, provided the member's official duties include responding to a fire or emergency call.
2. a. There is established in the Higher Education Student Assistance Authority a Volunteer First Responders Loan Redemption Program. To be eligible to participate in the program an applicant shall:
(1) be a resident of the State;
(2) be an active volunteer emergency responder who:
(a) in the case of a volunteer on a first aid, rescue, or ambulance squad or with an Office of Emergency Management, has completed a minimum of 500 hours of volunteer work in each year of program participation; or
(b) in the case of a volunteer firefighter, has responded to at least 60 percent of regular alarms and 60 percent of drills and has received certification from the Division of Fire Safety in the Department of Community Affairs;
(3) have completed an undergraduate degree or certificate program at an in-State institution of higher education on or after the effective date of this act; and
(4) provide the authority with a sworn or official statement from the chief or other presiding officer with the volunteer fire company, the volunteer first aid, rescue or ambulance squad, or the county or municipal volunteer Office of Emergency Management, as appropriate, attesting that the applicant is an active member in good standing.
An individual may apply to the authority to participate in the program in such manner as the authority prescribes and shall include all information and documentation required by the authority.
b. A program participant may redeem eligible student loan expenses upon execution of a contract between the program participant and the authority. The contract shall be for a specified number of one-year periods of service as a volunteer emergency responder.
c. The redemption of loans under the loan redemption program shall not exceed $6,000 or the outstanding balance of eligible student loan expenses, whichever is less. A participant may receive $2,000 in each of the second, third, and fourth years of active service in the program following graduation from the degree or certificate program. A program participant shall not be eligible to receive any loan redemption in the first year of active service in the program.
A program participant shall submit to the authority proof of service as an active volunteer emergency responder in good standing prior to redemption of loan indebtedness. Service for less than a full year for each period of service shall not entitle the program participant to any benefits under the program.
d. A program participant who has entered into a redemption contract with the authority may nullify the contract by submitting written notification to the authority and assuming full responsibility for repayment of principal and interest on the full amount of the program participant's loans or that portion of the loans which has not been redeemed by the State in return for fulfillment of the contract.
e. In the case of the program participant's death or total and permanent disability, the authority shall nullify the service obligation of the program participant. The nullification shall terminate the authority's obligations under the loan redemption contract. If continued enforcement of the contract results in extreme hardship, the authority may nullify or suspend the service obligation of the program participant.
3. The authority shall adopt pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary to effectuate the purposes of this act.
4. This act shall take
effect immediately.
STATEMENT
This bill establishes the Volunteer First Responders Loan Redemption Program in the Higher Education Student Assistance Authority. To be eligible to participate in the program, an applicant is required to:
· be a resident of the State;
· be an active volunteer emergency responder who:
o in the case of a volunteer on a first aid, rescue, or ambulance squad or with an Office of Emergency Management, has completed a minimum of 500 hours of volunteer work in each year of program participation; or
o in the case of a volunteer firefighter, has responded to at least 60 percent of regular alarms and 60 percent of drills and has received certification from the Division of Fire Safety in the Department of Community Affairs;
· have completed an undergraduate degree or certificate program at an in-State institution of higher education on or after the bill's effective date; and
· provide the authority with a sworn or official statement from the chief or other presiding officer with the volunteer fire company, the volunteer first aid, rescue or ambulance squad, or the county or municipal volunteer Office of Emergency Management, as appropriate, attesting that the applicant is an active member in good standing.
The redemption of loans under the program would amount to $6,000 or the outstanding balance of eligible student loan expenses, whichever is less. A participant may receive $2,000 in each of the second, third, and fourth years of active service in the program following graduation from the degree or certificate program. A program participant will not be eligible to receive any loan redemption in the first year of active service in the program.
