The bill establishes the Reproductive Health Care Professional Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to address the growing need for reproductive health care services in New Jersey. With an appropriation of $5 million, the program aims to alleviate the financial burden of student loans for health care professionals who provide reproductive health care services, including abortion care, at approved sites such as nonprofit organizations, hospitals, and clinics. Eligible participants must be residents of New Jersey, employed as licensed reproductive health care professionals, and will receive loan redemption based on their years of service at an approved site, with a maximum redemption amount of $200,000.

To participate, applicants must submit an application and will be selected based on eligibility criteria, with preference given to those working in areas facing a shortage of reproductive health care providers. The loan redemption structure is tiered, offering 18% for the first year of service, increasing to 28% for the third and fourth years. The bill also includes provisions for nullifying contracts in cases of death or total disability and specifies that individuals participating in other loan repayment programs are ineligible for this program. The act is set to take effect immediately upon enactment.