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Who cares
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Sponsors
1 Co-sponsor
History
- Referred to higher education
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7308
Title of bill
An act to require the conducting of a study by the board of regents of feasible alternative methods of funding a college education at public four-year institutions of higher learning in New York state
Purpose or general idea of bill
This bill seeks to authorize a commission to assess the feasibility of alternative methods to pay for college educations at colleges and universities that fall under the State's jurisdiction. The commission would determine if it is feasible to have students finance their educations after they have completed their studies and by having a percentage (yet to be determined) of their future earnings earmarked for set period of time (yet to be determined) to pay off their loans.
Summary of specific provisions
Section 1 describes pilot program.
Section 2 describes what warrants a pilot program. Section 3 depicts what the pilot program is assigned to do. Section 4 outlines the variations in the pilot program.
Justification
Public investment in higher education in this state has decreased over the past decade, resulting in substantial increases in annual tuition, fees and room and board imposed by public four-year and two-year institutions of higher education in the state. These increases have out-paced increases in the average family income in the state, forcing students to incur larger amounts of debt in order to afford to attend college. The average student loan debt of students graduating from public four-year institutions of higher education in New York now exceeds $25,000. Such high levels of student debt are damaging not only to the individual student's ability to succeed financially but also will have grave consequences for the future economy of this state.
Prior legislative history
New Bill
Fiscal implications
None
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.