Establishes loan redemption program for certain bilingual education teachers.

This bill establishes a loan redemption program for New Jersey public school teachers who teach bilingual education or English as a second language (ESL) programs. To qualify, teachers must work full-time for four consecutive years in a school where at least 10% of students are enrolled in such programs, and they must be New Jersey residents. The program, administered by the Higher Education Student Assistance Authority, will redeem up to $20,000 in eligible student loan expenses (25% of the balance per year, capped at $5,000 annually) after four years of service. Priority is given to teachers working in schools designated as "low performing" based on student assessment data.