Bill Text: NY A04101 | 2019-2020 | General Assembly | Introduced

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Bill Title: Requires institutions of higher education to provide notice to students with education loans that refunds of overpayments of tuition or fees are loan moneys that must be repaid to the lender.

Spectrum: Partisan Bill (Democrat 9-0)

Status: (Introduced - Dead) 2020-01-08 - referred to higher education [A04101 Detail]

Download: New_York-2019-A04101-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4101
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    February 1, 2019
                                       ___________
        Introduced  by  M.  of  A. ENGLEBRIGHT, PEOPLES-STOKES, JAFFEE -- Multi-
          Sponsored by -- M.  of A. COOK, GALEF, LUPARDO, MOSLEY, RIVERA, WRIGHT
          -- read once and referred to the Committee on Higher Education
        AN ACT to amend the education law, in relation to requiring institutions
          of higher education to provide conspicuous notice to students,  having
          education  loans, that refunds of overpayments of tuition or fees have
          to be repaid to the lender
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. The education law is amended by adding a new section 6437-a
     2  to read as follows:
     3    § 6437-a. Overpayments of tuition and fees. Every institution of high-
     4  er  education which receives or credits to a student's account any over-
     5  payment of tuition and/or fees, shall, if such student's tuition  and/or
     6  fees  are  paid  by  means  of any type of education loan, conspicuously
     7  provide notice to students, either at  the  time  a  student  accepts  a
     8  financial  aid  offer  or directly on the refund check for such overpay-
     9  ment, that the refund is loan money that will have to be repaid  to  the
    10  education loan lender.
    11    §  2.  This  act shall take effect on the thirtieth day after it shall
    12  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08498-01-9