S 3090 New Jersey Senate · 2024-2025 Regular Session

Requires certain employers to provide certain employees with notifications concerning federal Public Service Loan Forgiveness program.

New Jersey Senate Bill S3090 (S 3090) requires employers designated as qualifying under the federal Public Service Loan Forgiveness (PSLF) Program to inform new employees about PSLF eligibility during initial benefits orientation. The bill mandates that these employers explain two key aspects: (1) potential eligibility for PSLF, and (2) the specific requirements to qualify, including working at least 30 hours weekly (or full-time per employer), holding Direct Loans or consolidated federal loans, using income-driven repayment plans, and making 120 qualifying monthly payments. This applies only to employers already certified under the federal PSLF program. The law takes effect immediately upon enactment.
Bill status in committee 1 of 4 stages cleared
Introduction
Apr 2024
Committee Review
Floor Vote
Governor
Introduced Apr 11, 2024 Last action Apr 11, 2024
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Apr 11, 2024
Introduced
Introduced in the Senate, Referred to Senate Higher Education Committee
upper
1 primary · 0 co-sponsors

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Role
Legislator
Party
State
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P
Photo of Joe Cryan
Joe Cryan
DDemocratic
NJ
20