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 enter into a contract specifying their service duration and the amount of student loans to be redeemed.

Under the program, loan redemption is structured to provide increasing percentages of qualifying student loan amounts based on the length of service, with a maximum redemption limit of $200,000. The executive director of HESAA will prioritize applicants from counties facing a shortage of reproductive health care professionals. Additionally, individuals participating in other federal or state loan repayment programs are ineligible for this program. The bill emphasizes the importance of increasing access to reproductive health care services in light of recent restrictions in other states, thereby positioning New Jersey as a critical resource for those seeking such care.