Establishes Grow Your Own Teacher Loan Redemption Program in Higher Education Student Assistance Authority.

This bill creates the Grow Your Own Teacher Loan Redemption Program to help teachers in New Jersey pay off student loans. It targets individuals who graduated from high school in a district with a teacher shortage or lived in such a district for over five years, and who become certified teachers there. Participants earn up to $10,000 annually toward loan repayment (principal and interest) for each year of full-time teaching in a shortage district, with a maximum total of $50,000 over five years. The program is funded at a maximum of $500,000 per state fiscal year.