The bill establishes the Sign Language Interpreting Services Providers Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to assist certified sign language interpreters in repaying their student loans in exchange for service at approved sites. These sites include nonprofit agencies, schools, healthcare entities, and other organizations that provide interpreting services. To qualify, applicants must be residents of New Jersey, employed as certified interpreters, and submit an application as determined by the executive director of HESAA. Preference will be given to those working in counties with a shortage of interpreters.

Participants in the program can have a portion of their student loans redeemed based on their length of service, with redemption rates set at 18% for the first year, 26% for the second, and 28% for the third and fourth years, up to a maximum of $200,000. The bill also includes provisions for nullifying contracts in cases of death or total disability and prohibits those already in other loan repayment programs from participating in this one. An appropriation of $2 million from the General Fund is allocated to implement the program.