June 27, 2024
On Monday, June 17, 2024, New Jersey's Department of Human Services (DHS), Department of Children and Families (DCF), and Higher Education Student Assistance Authority (HESAA) formally announced the Home- and Community-Based Services Loan Redemption Program (HCBSP-LRP), a new initiative that will provide student loan redemption up to $50,000 to licensed healthcare, behavioral healthcare, and social services professionals in exchange for a year of service at eligible HCBS provider agencies.
The one-time allocation for this student loan redemption program provides:
- $5 million for eligible employees serving in DHS' Division of Mental Health and Addiction Services-contracted agencies
- $5 million for eligible employees serving in DHS' Division of Developmental Disabilities-funded agencies and self-directing employees
- $5 million for eligible employees at DCF-approved settings
- $2 million for eligible private duty nurses employed by agencies contracted by NJ FamilyCare's managed care organizations.
Psychiatrists, licensed psychologists, licensed social workers, licensed clinical social workers, psychiatric nurse mental health clinical specialists, board-certified behavior analysts, board-certified behavior analysts-doctoral, licensed clinical and/or certified alcohol and drug counselors, licensed professional and associate counselors, licensed and/or associate marriage and family therapists, licensed practical nurses, registered nurses, and DCF care managers will be eligible to apply if they work in any of the above-listed settings.
Click here to access a list of DMHAS HCBSP-LRP-eligible contracted programs.
To qualify for this student loan redemption program, an applicant must meet all of these requirements:
- Be employed full-time in an eligible profession by a State-funded home- and community-based provider agency.
- Maintain a current license/board certification, as applicable, to practice in New Jersey throughout participation in the program.
- Maintain employment at the State-funded home- and community-based provider agency for at least one year, pursuant to the terms of a contract with HESAA.
- Not be in default on any eligible qualifying student loan.
- Not currently be participating in any other student loan redemption program or in the federally administered National Health Service Corps Loan Repayment Program.
Applications for the program will open on July 1 and close on July 31, 2024. Awards will be made on a first-come, first-served basis.
Click here for more information on the HCBSP-LRP program and click here to apply once applications open.
On June 19, 2024, DHS and DCF hosted a webinar on this loan redemption program for HCBS provider agencies; however, as some agencies were closed on June 19th in observance of Juneteenth, DHS and DCF will host an additional introductory webinar on June 28, 2024, at 3:00 p.m. ET.
Click here to register to attend and for more information.
