ASSEMBLY, No. 1634
STATE OF NEW JERSEY
PRE-FILED FOR INTRODUCTION IN THE 2020 SESSION
Assemblywoman PAMELA R. LAMPITT
District 6 (Burlington and Camden)
Requires Higher Education Student Assistance Authority to issue vouchers in amount of monthly loan repayment amount for loan borrowers who have child enrolled in Grow NJ Kids-rated child care program.
CURRENT VERSION OF TEXT
As reported by the Assembly Higher Education Committee on June 2, 2021, with amendments.
An Act concerning student loan repayment 1[waivers] vouchers1 for certain borrowers 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:
“Approved program” means a licensed child care center, a school- or center-based preschool program, a Head Start program, or a registered family child care provider which has achieved a Grow NJ Kids rating of at least three.
“Authority” means the Higher Education Student Assistance Authority” established pursuant to N.J.S.18A:71A-3.
“Grow NJ Kids” means New Jersey’s quality rating improvement system designed to raise the quality of child care and early learning programs.
“Program” means the Grow NJ Kids Student Loan 1[Waiver] Voucher1 Program established pursuant to section 2 of this act.
“Program participant” means a 1[New Jersey College Loans to Assist State Students (NJCLASS) Loan Program] State or federal student aid loan program1 borrower who has a child enrolled in an approved program and who has applied and been accepted by the authority for participation in the Grow NJ Kids Student Loan 1[Waiver] Voucher1 Program.
2. There is established a Grow NJ Kids Student Loan 1[Waiver] Voucher1 Program within the Higher Education Student Assistance Authority. Under the program, the authority shall 1[reduce] issue a voucher to an eligible borrower in the amount of1 the principal monthly loan repayment amount for an eligible 1[New Jersey College Loans to Assist State Students (NJCLASS) Loan Program]1 borrower who has a child enrolled in an approved program 1[, by the amount of the approved program’s monthly tuition. The borrower shall pay any principal monthly loan repayment amount that exceeds the amount waived by the authority plus any interest]1. The State shall appropriate such amounts as may be necessary to offset the loan principal amounts 1[waived] provided through the vouchers authorized1 under the program.
3. To be eligible to participate in the program, an applicant shall:
a. be a resident of the State;
b. provide evidence of his child’s enrollment in an approved program;
c. submit an application to participate in the program to the authority in a time and manner as determined by the authority; 1[and]1
d. 1have an individual annual income of no greater than $75,000 or a combined household income of no greater than $150,000; and
e.1 satisfy any additional criteria the authority may establish.
4. a. A program participant shall enter into a contract with the authority. The contract shall specify the amount of the monthly 1[loan repayment to be waived by the authority and the monthly amount] voucher1 to be 1[paid by the] issued to a1 program participant.
b. A program participant who has entered into a contract with the authority may nullify the contract by notifying the authority in writing and assuming full responsibility for the total monthly loan repayment amount.
5. A program participant shall immediately notify the authority if:
a. there is a change in the tuition amount charged by the approved program;
b. the child is no longer enrolled in the approved program; or
c. the child transfers from the approved program to another approved program, or to another child care program that does not have a Grow NJ Kids rating of at least three.
6. The authority shall provide:
a. each licensed child care center, school- or center-based preschool program, Head Start program, or registered family child care provider with information on the Grow NJ Kids 1[initiative, including information on how to attain a Grow NJ Kids rating] Student Loan Voucher Program1 ; and
b. 1[each NJCLASS Loan Program borrower with information on the Grow NJ Kids Student Loan Waiver Program] information on the Grow NJ Kids Student Loan Voucher Program to the general public through the authority’s website and through other relevant outreach to loan borrowers as determined by the authority1.
17. An approved program shall publicize the Grow NJ Kids Student Loan Voucher Program within their facility, on their websites, and through any other relevant communications to individuals, as deemed appropriate by the approved program.1
1[7.] 8.1 The authority shall adopt in accordance with the “Administrative Procedure Act,” P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations as may be necessary to implement the provisions of this act.
1[8.] 9.1 This act shall take effect immediately.