New Jersey Pay It Forward Program Expands to Support Nursing Students at Ocean County College

TOMS RIVER, N.J. — Today, the New Jersey Pay It Forward Program announced that it will now provide financial support to nursing students enrolled at Ocean County College, helping to expand access for students pursuing careers in the healthcare field. 

Beginning in Fall 2026, students enrolled in Ocean County College’s Nursing Program will be eligible to apply for zero-interest, no-fee loans through the New Jersey Pay It Forward Program, designed and managed by Social Finance, to help cover tuition and fees. Eligible students may also qualify for monthly living stipends, emergency financial assistance, and mental health support services that do not require repayment. 

“The support available through the NJ Pay It Forward Program can make a meaningful difference in helping students focus on their studies and successfully complete the program,” said Dr. Tracy Walsh, dean of Nursing and Health Sciences at Ocean County College. “We are excited to provide our students with additional resources that support both their educational journey and their future careers as registered nurses.” 

Launched in 2022 through a partnership between the State of New Jersey, the NJ CEO Council, and Social Finance, the New Jersey Pay It Forward Program is the nation’s first Pay It Forward program. Created in partnership with former Governor Phil Murphy and now run in partnership with Governor Mikie Sherrill, the initiative helps New Jersey residents access education and training for high-demand careers while addressing workforce needs in critical industries such as healthcare. Loan repayments are reinvested into the program to support future participants. 

“The New Jersey Pay It Forward Program is a powerful tool in bolstering New Jersey’s nursing workforce,” said Governor Mikie Sherrill. “By removing financial barriers to high-quality training, this program is helping New Jerseyans build the skills they need to enter good-paying, in-demand careers while strengthening the talent pipeline our state’s employers depend on.” 

Governor Sherrill’s Fiscal Year 2027 budget included an additional $1 million for the New Jersey Pay It Forward Program, and the Ocean County College expansion will help support hundreds of nursing students. As New Jersey continues to face a nursing shortage, the program will help alleviate financial stress for students looking to pursue a career in the field.

Since the program launched, the State has contributed $20 million, leveraged with approximately $5 million in contributions from the NJ CEO Council. The program is on track to support 1,000 students. 

“We are thrilled to welcome Ocean County College’s Nursing Program into the New Jersey Pay It Forward Program,” said Kirstin Hill, President & Chief Operating Officer at Social Finance. “Healthcare is one of the state’s most in-demand industries, and we have seen strong results investing in healthcare learners across New Jersey. This program is designed to help students persist through their training and graduate ready to enter the workforce, filling a critical need for qualified nurses in communities across the state.” 

The partnership reflects Ocean County College’s ongoing commitment to increasing educational access while helping address New Jersey’s growing demand for qualified healthcare professionals. 

“Ocean County College is committed to removing the barriers that prevent our students from achieving their goals,” said OCC President Pamela Monaco. “Through our partnership with the New Jersey Pay It Forward Program, our nursing students have access to financial support that can help them complete their education, enter a critical, high-demand profession, and strengthen the healthcare workforce that serves our communities.” 

Ocean County College’s Nursing Program combines classroom instruction with hands-on clinical experience to prepare graduates for careers in a variety of healthcare settings, including hospitals, long-term care facilities, and other healthcare organizations. Students earn an Associate in Applied Science (A.A.S.) degree in Nursing and are eligible to take the National Council Licensure Examination (NCLEX-RN). Graduates who successfully pass the examination become licensed registered nurses. 

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About Social Finance 

Social Finance is a national nonprofit and registered investment adviser (SF Advisers, LLC). We bring government, philanthropy, and business leaders together to put capital to work in new ways to improve systems and expand opportunity. Through our Workforce & Education Investments portfolio, we design and manage innovative investments to more sustainably finance upskilling, address labor market needs, and prepare learners for jobs that lead to economic mobility. Since our founding in 2011, we have mobilized more than $500 million in investments to create better results in workforce and education, health, and housing. Learn more at socialfinance.org.