New Jersey § 18a:71c-55
Full text of New Jersey New Jersey Statutes § 18a:71c-55, with citation guidance and answers to common questions.
§ 18a:71c-55.
a. For each year of full-time faculty employment at an eligible institution, the program
shall provide $10,000 to a program participant, up to a maximum five years, for the
redemption of eligible student loan expenses. Loan redemption amounts for program participants who do not have full-time faculty
employment shall be awarded on a pro-rata basis. The total loan redemption amount for a program participant shall not exceed $50,000. As used in this subsection, “ full-time faculty employment ” means employment with a faculty load of 12 or more academic credits in each of two
semesters in an academic year. b. No amount of loan redemption shall be provided for service performed for less than
a full year. Loan redemption shall be applied first to outstanding State loans and then to outstanding
Federal loans.
Frequently Asked Questions About New Jersey § 18a:71c-55
What does New Jersey Statutes § 18a:71c-55 cover?
Section 18a:71c-55 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:71c-55?
A common citation format is "New Jersey Statutes § 18a:71c-55" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:71c-55 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.