Establishes New Jersey Workforce Industry Needs Scholarship.
Impact
The bill mandates the Secretary of Higher Education to create a list of eligible programs that prepare students for high-demand careers in sectors such as advanced manufacturing, healthcare, education, and public safety. The scholarship covers costs associated with tuition and related fees, not exceeding $5,000 annually, and allows students to access funding for a maximum of three years for associate degree programs, or two years for other eligible courses. This measure is designed to ease the financial burden on students while addressing workforce shortages in key industries in New Jersey.
Summary
Assembly Bill A5052 establishes the New Jersey Workforce Industry Needs Scholarship, aimed at providing financial assistance to students pursuing various educational credentials, including professional certificates, industry-recognized credentials, diplomas, or degrees. The scholarship is intended to support individuals enrolled in eligible programs at county colleges and county vocational schools, specifically focusing on areas that meet the state's labor demands as defined by the Labor Demand Occupation List.
Contention
There may be points of contention surrounding the allocation of scholarships, particularly the prioritization of certain programs over others based on market needs. Critics may argue that such prioritization could limit students' access to a broader range of educational opportunities, particularly in fields that are traditionally less funded or valued within state employment metrics. Additionally, the bill's requirement for students to maintain certain academic standards may raise concerns regarding accessibility for all potential applicants, especially those from disadvantaged backgrounds.
The skilled workforce student loan repayment and scholarship programs, Native American scholarships, and the North Dakota scholarship; and to provide an appropriation.
Education Freedom Scholarships and Opportunity Act This bill allows individual and corporate taxpayers a tax credit for cash contributions to certain scholarship-granting and workforce training organizations. It imposes a cap of $10 billion on the sum of contributions that qualify for a tax credit under this bill. The bill requires the Department of Education, in coordination with the Departments of the Treasury and Labor, to establish, host, and maintain a web portal that (1) lists all eligible scholarship-granting and workforce training organizations; (2) enables contributions to such organizations; (3) provides information about the benefits of this bill; and (4) enables a state to submit and update information about its programs and educational organizations, including information on student eligibility and allowable educational expenses.