Requires institutions of higher education and certain proprietary institutions to notify Higher Education Student Assistance Authority of approved federal borrower defense loan discharge.

This New Jersey bill (S 1487) requires colleges and universities - including public institutions and licensed proprietary schools - to notify the Higher Education Student Assistance Authority when the federal government approves a student loan discharge under "borrower defense" (where students get federal loans canceled due to school misconduct). Specifically, institutions must report these federal discharges to the Authority’s Executive Director and indicate if the student was a New Jersey resident during enrollment. The bill aims to help the Authority track discharges for New Jersey residents but does not change federal loan policies. It takes effect immediately upon enactment.