Legislation that would establish a physician loan redemption program in New Jersey has moved out of committee and onto the assembly floor, according to a report on NJ.com.
The program would redeem qualifying loan expenses for physicians for four years if they work in New Jersey for four years in medically underserved areas, according to the report. The program would only apply to physicians in specialties that are in a shortage in the state.
Two state legislators introduced the bill in response to the expected physician shortage and a recent report issued by the New Jersey Council of Teaching Hospitals, which revealed the state is only keeping one-third of its medical school graduates, according to the report.
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