Establishes gross income tax credit and corporation business tax credit for student loan payments.

This bill creates two tax credits for New Jersey residents and employers related to student loan payments. Individuals who earned an associate's, bachelor's, or graduate degree from an accredited school and worked in New Jersey during the tax year can claim a credit equal to a portion of their qualifying student loan payments (capped by a standard benchmark amount). Employers can also claim a credit for paying employees' qualifying student loans, with part-time employees counting at 50% of the credit. Unused credits can be carried forward for up to seven years, and STEM degree holders who pay no tax may receive a refund for excess credit.