TRENTON – A bill sponsored by Senator Joseph F. Vitale that would encourage graduates of New Jersey state colleges or universities to enter fields that are facing labor shortages was approved today by the Senate Higher Education Committee.
The bill, S-1229, would create the ‘Workforce Shortage Loan Redemption Program’ that would provide student loan redemptions of up to 75 percent in return for four years of service in a field with qualifying labor shortages.
“The ‘Workforce Shortage Loan Redemption Program’ would help to fill vacancies in professions with large workforce shortages by targeting highly-qualified recent graduates and matching them with careers that are in high demand,” said Senator Vitale (D-Middlesex). “Not only would this program benefit New Jersey’s economy by connecting people with jobs, but it would also encourage New Jersey’s best and brightest to stay in state after they graduate.”