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Bill > S04027
NY S04027
NY S04027Creates the New York state public sector employee loan forgiveness program for graduates of SUNY or CUNY schools employed in a state or local public sector position.
summary
Introduced
02/02/2023
02/02/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the education law, in relation to creating the New York state public sector employee loan forgiveness program
AI Summary
This bill creates the New York State Public Sector Employee Loan Forgiveness Program, which provides student loan forgiveness awards to graduates of the State University of New York (SUNY) or the City University of New York (CUNY) who are employed full-time in state or local public sector positions. The program aims to attract workers to public sector jobs by offering up to $5,000 per year in loan forgiveness, for a maximum of 10 years or the remaining balance of the applicant's student loan debt, whichever is less. The program is administered by the New York State Higher Education Services Corporation, which is authorized to promulgate rules and regulations necessary for its implementation.
Committee Categories
Education
Sponsors (2)
Last Action
REFERRED TO HIGHER EDUCATION (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S4027 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S04027&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S04027 |
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