The bill establishes the Large Animal Veterinarian Loan Redemption Program within the Higher Education Student Assistance Authority (HESAA) to assist veterinarians who practice in State-designated underserved areas in New Jersey. The program allows participants to redeem a portion of their eligible student loan expenses for each year of service in these areas. To qualify, applicants must be graduates of accredited veterinary schools and agree to practice as full-time, mixed-time, or part-time large animal veterinarians. The program requires a three-year service contract, during which participants must complete the full term even if their loans are paid off early.

The loan redemption structure is tiered based on the number of hours worked, with full-time veterinarians eligible for up to $25,000 per year (capped at $150,000 for six years), mixed-time veterinarians eligible for two-thirds of that amount, and part-time veterinarians eligible for one-third. The bill also outlines provisions for nullifying contracts in cases of hardship, death, or disability, and mandates that participants repay any funds if they do not complete the required service. Additionally, the bill appropriates $200,000 from the General Fund to support the program's implementation.