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

S 3544 establishes the Teaching Scholars Loan Redemption Program within New Jersey's Higher Education Student Assistance Authority. It provides eligible New Jersey high school graduates pursuing teaching degrees at in-state colleges with loan coverage (up to $40,000 for undergrad and $10,000 for grad school) in exchange for five years of full-time public school teaching in New Jersey. To qualify, applicants must be NJ residents, graduate from a NJ high school, exhaust all other grants/scholarships, and maintain academic standing. The program redeems up to $10,000 per year of teaching service, totaling $50,000 maximum, to address the state's educator shortage by incentivizing top graduates to become teachers.