Establishes Outstanding Scholars Recruitment Program.

This bill establishes the Outstanding Scholars Recruitment Program to provide scholarships for high-achieving New Jersey students attending public or independent colleges. It funds up to 70% of scholarship costs at public institutions and 40% at private institutions, with schools covering the remainder. Eligible students must be NJ residents, have top academic rankings (e.g., SAT >1,500 and top 5% class rank), apply for other aid (excluding loans), and maintain a 3.0 GPA while studying full-time. The scholarship amounts range from $7,500 (top performers) down to $2,500 (lower thresholds), with a maximum four-year eligibility period. The Higher Education Student Assistance Authority will administer the program, which was previously eliminated in 2010.