N.J. Admin. Code § 9A:10-5.3

Current through Register Vol. 56, No. 24, December 18, 2024

Section 9A:10-5.3 - Eligibility requirements for Program participation

(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.

N.J. Admin. Code § 9A:10-5.3

Adopted by 54 N.J.R. 1080(a), effective 6/6/2022