Bill Text: NY S05086 | 2021-2022 | General Assembly | Introduced

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Bill Title: Creates the child care professionals loan forgiveness incentive program for applicants who agree to engage in employment in the child care field; establishes the eligibility for such awards; establishes the amount and duration of such awards.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO HIGHER EDUCATION [S05086 Detail]

Download: New_York-2021-S05086-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5086

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 23, 2021
                                       ___________

        Introduced  by  Sen. KENNEDY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education

        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 Assem-
        bly, do enact as follows:

     1    Section 1. Section 605 of the education law is amended by adding a new
     2  subdivision 13 to read as follows:
     3    13. New York state child care professionals loan forgiveness incentive
     4  program. a. Purpose.  The president shall grant student loan forgiveness
     5  awards for the purpose of increasing the number of  child  care  profes-
     6  sionals  employed  in  New  York  state.  Such awards shall be made on a
     7  competitive basis to applicants who have graduated from  an  institution
     8  of higher education approved or registered by the regents.
     9    b.  Eligibility.  (1)  To  be eligible to receive an award pursuant to
    10  this subdivision, an applicant must be a resident of New York state  who
    11  has  graduated  from  an  institution  of  higher  education  and has an
    12  outstanding student loan debt.
    13    (2) Such awards shall be made annually  to  eligible  applicants  who,
    14  prior to accepting such awards, engaged in twelve months of service as a
    15  child  care professional in a child day care facility licensed or regis-
    16  tered pursuant to the social services law or the administrative code  of
    17  the city of New York and such awards shall not exceed an amount of twen-
    18  ty-five  thousand dollars and shall be made to such applicants, pursuant
    19  to the following schedule:
    20    (i) twenty percent to be awarded upon  the  completion  of  the  first
    21  year;
    22    (ii)  twenty  percent  to be awarded upon the completion of the second
    23  year;
    24    (iii) twenty percent to be awarded upon the completion  of  the  third
    25  year;

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01761-01-1
        S. 5086                             2

     1    (iv)  twenty  percent  to be awarded upon the completion of the fourth
     2  year; and
     3    (v)  twenty  percent  to  be  awarded upon the completion of the fifth
     4  year.
     5    (3) Recipients of such awards shall be eligible  to  apply  for  other
     6  awards established under this chapter.
     7    c. Duration. Such awards shall be made annually, for no more than five
     8  years,  to applicants who remain eligible under this subdivision and who
     9  are certified as such by the corporation.
    10    d. Amount. The corporation shall grant such awards within the  amounts
    11  appropriated  for such purpose and based on the availability of funds in
    12  an amount not to exceed the total cost of the completion of such  degree
    13  programs.  Cost  of completion of such degrees shall include: tuition at
    14  an institution of higher education approved or registered by the regents
    15  and other required or reasonable student fees.
    16    § 2. This act shall take effect immediately.