The bill establishes the Reproductive Health Care Professional Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to address the increasing costs of education for health care professionals and the shortage of reproductive health care providers in New Jersey. It appropriates $5 million to facilitate the redemption of a portion of qualifying student loans for eligible reproductive health care professionals who commit to serving at approved sites that provide reproductive health care services, including abortion care. The program aims to incentivize professionals to work in areas facing a shortage of such services, thereby improving access to reproductive health care for New Jersey residents.

To participate in the program, applicants must be state residents, employed as licensed reproductive health care professionals at approved sites, and submit an application as determined by the executive director of HESAA. The loan redemption structure is tiered, offering 18% of qualifying loan amounts for one year of service, increasing to a total maximum redemption of $200,000 over four years. Additionally, the bill specifies that individuals already participating in other loan redemption programs, such as the National Health Service Corps Loan Repayment Program, are ineligible for this program.