Establishes Teaching Scholars Loan Redemption Program in Higher Education Student Assistance Authority.

This bill establishes the Teaching Scholars Loan Redemption Program, which provides eligible New Jersey high school graduates with student loans to cover education costs in exchange for five years of full-time teaching in the state's public schools. To qualify, applicants must be NJ residents, graduate from a NJ high school, exhaust other grants/scholarships first, and maintain academic standing. Participants receive up to $40,000 in undergraduate loans and $10,000 in graduate loans, with the state redeeming up to $10,000 per year of service - capping at $50,000 total - after completing their teaching commitment. The program aims to recruit high-achieving students into teaching careers while addressing educator shortages.