What's happening
This bill creates a loan forgiveness program for child care professionals in New York who serve for up to five years.
Why it matters
Addresses the child care workforce shortage. by incentivizing graduates to enter and remain in child care professions, potentially improving access to child care services for families in New York.
Targets financial barriers. for child care professionals, a field often characterized by low wages and high turnover, by offering up to $25,000 in student loan forgiveness over five years, making the profession more financially viable.
Encourages retention and experience. by structuring the loan forgiveness in annual increments, rewarding professionals who commit to staying in the field long-term and building expertise in early childhood education.
Expands eligibility and support. by allowing recipients to apply for additional state awards, increasing the potential financial relief for those pursuing a career in child care.
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Who cares
Headline styles
Forgive Child Care Worker Loans
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
History
- Referred to higher education
- Print number 2907a
- Amend and recommit to higher education
- Referred to higher education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Forgive Child Care Worker Loans
In Senate Committee · Higher Education · Sponsor Timothy M. Kennedy
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2907--A
2019-2020 Regular Sessions
IN ASSEMBLY
January 28, 2019
Introduced by M. of A. MAGNARELLI, LIFTON, PERRY -- Multi-Sponsored by -- M. of A. ABBATE, COLTON, GOTTFRIED, JAFFEE, LUPARDO, PEOPLES-STOKES -- read once and referred to the Committee on Higher Education -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the education law, in relation to creating the child care professionals loan forgiveness incentive program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 605 of the education law is amended by adding a new subdivision 13 to read as follows:
13. New York state child care professionals loan forgiveness incentive program. a. Purpose. The president shall grant student loan forgiveness awards for the purpose of increasing the number of child care professionals employed in New York state. Such awards shall be made on a competitive basis to applicants who have graduated from an institution of higher education approved or registered by the regents.
b. Eligibility. (1) To be eligible to receive an award pursuant to this subdivision, an applicant must be a resident of New York state who has graduated from an institution of higher education and has an outstanding student loan debt.
(2) Such awards shall be made annually to eligible applicants who, prior to accepting such awards, engaged in twelve months of service as a child care professional in a child day care facility licensed or registered pursuant to the social services law or the administrative code of the city of New York and such awards shall not exceed an amount of twenty-five thousand dollars and shall be made to such applicants, pursuant to the following schedule:
(i) twenty percent to be awarded upon the completion of the first year;
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00834-03-9
A. 2907--A 2
(ii) twenty percent to be awarded upon the completion of the second year;
(iii) twenty percent to be awarded upon the completion of the third year;
(iv) twenty percent to be awarded upon the completion of the fourth year; and
(v) twenty percent to be awarded upon the completion of the fifth year.
(3) Recipients of such awards shall be eligible to apply for other awards established under this chapter.
c. Duration. Such awards shall be made annually, for no more than five years, to applicants who remain eligible under this subdivision and who are certified as such by the corporation.
d. Amount. The corporation shall grant such awards within the amounts appropriated for such purpose and based on the availability of funds in an amount not to exceed the total cost of the completion of such degree programs. Cost of completion of such degrees shall include: tuition at an institution of higher education approved or registered by the regents and other required or reasonable student fees.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.