This bill establishes the Air Traffic Controller Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to assist eligible air traffic controllers in repaying their student loans in exchange for service at approved sites. Participants must be residents of New Jersey and employed as air traffic controllers at designated airports. The program offers a structured loan redemption plan, where participants can receive up to $100,000 in loan forgiveness based on their years of service, with specific percentages of their qualifying student loan amounts redeemed for each year of service completed.

Additionally, the bill creates a grant program within the Office of the Secretary of Higher Education aimed at public institutions of higher education. This program will support institutions participating in the federal Unmanned Aircraft Systems Collegiate Training Initiative and facilitate the establishment of a Center for the Study of Unidentified Aerial Phenomena, as well as non-engineering aviation degrees that include air traffic control and aviation administration courses. The Secretary will select grant recipients based on their applications, with a preference for institutions in first-class counties, and grants can reach up to $2.5 million for four-year institutions and $1 million for county colleges. The total appropriation for these initiatives is $3.5 million.