Bill > A00639

This bill directs the New York labor commissioner, in consultation with the higher education services corporation and financial services superintendent, to develop comprehensive materials about student loan repayment options for new employees. These materials will provide information on federal student loan repayment strategies, including consolidation and income-based programs, and direct borrowers to additional resources like the department of financial services' student lending resource center. The bill requires employers to provide these materials to new employees hired for post-graduate internships or entry-level positions requiring an associate's degree or higher, with public employers required to provide additional information about public service loan forgiveness programs. The bill defines "student loan" as any loan for post-secondary education expenses and a "borrower" as a state resident who has taken out or is obligated to repay such a loan. The legislation will take effect 180 days after becoming law, with preparatory regulatory work allowed to begin immediately.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A639