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 providing interpreting services. To qualify for the program, applicants must be residents of New Jersey, employed as certified interpreters, and submit an application as determined by the executive director of HESAA. The program prioritizes applicants working in counties with a shortage of interpreting service providers.

Participants in the program can receive loan redemption based on their years of service, with 18% of qualifying student loans redeemed for one year of service, increasing to a total of 28% for the third and fourth years, capped at $200,000. The bill also includes provisions for nullifying contracts in cases of participant death or total disability and prohibits those already in other loan repayment programs from participating in this one. The bill appropriates $2 million from the General Fund to support the program's implementation.