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

This bill establishes the Teaching Scholars Loan Redemption Program to address New Jersey's educator shortage by offering financial incentives to top high school graduates. Eligible participants (NJ residents who graduated from NJ high schools, applied for all other grants/scholarships, and enroll in NJ higher education) receive student loans up to $40,000 for undergrad or $10,000 for grad studies. In exchange for a five-year teaching commitment in a NJ public school, the state repays up to $50,000 total in loans ($10,000 per year of service), with participants required to maintain academic standing. The program targets high-achieving students to recruit future educators while capping total state repayment per participant.