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History
- Referred to higher education
Companion bill
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Establishes the New York State Employee Loan Forgiveness Program
In Assembly Committee · Higher Education · Sponsor Michael Simanowitz
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to establishing the New York state employee loan forgiveness program
Purpose
To establish the New York State Employee Loan Forgiveness program to retain individuals serving as employees of a state employer.
Summary of provisions
Section 1 of the bill would amend the education law by adding a new section 679-h. Section 679h shall allow the commissioner of education to grant loan forgiveness awards to state employees who have a minimum of five (5) years of qualified service and have outstanding student loan debt. Not eligible are elected officials, judges or justices appointed to or serving in court of record. The awards may be granted in amounts ranging from $5,000 not to exceed $10,000. Awards will be based on availability of funds.
Section 2 of the bill provides that the act shall take effect immediately.
Existing law
Currently Education Law Section 679 awards loan forgiveness to individuals who are licensed social workers, primary care practitioners, nursing faculty, district attorney, indigent legal services attorney, and young farmers.
Justification
The cost of higher education has skyrocketed in recent years. It has become so expensive to pay for one's higher education that decisions regarding career are being determined based on economics. Consequently, the public sector job market, specifically the state government, has suffered as a result of the economic competition in the job marketplace. Without being able to match the salaries of the newly graduated in the private sector, the state government suffers by having to forego many talented individuals. This bill is a means of investing in the individuals who are willing to invest in the state for a job. The return is not immediate, but the investment will be worthwhile.
Legislative history
2011 - A1818 Referred to Codes
Fiscal implications
Undetermined
Local 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.