Bill > S01673

This bill requires the New York State Commissioner of Labor, in collaboration with the Higher Education Services Corporation and the Superintendent of Financial Services, to develop informational materials about student loan repayment options for new employees. Specifically, employers must provide these materials to individuals hired for post-graduate internships or entry-level positions requiring at least an associate's degree. The materials will include details about federal student loan repayment plans, such as income-based programs and consolidation options, and will direct employees to additional resources like the Department of Financial Services' student lending resource center. Public employers will be required to provide additional information about public service loan forgiveness programs. The bill defines "student loan" as any loan used to finance post-secondary education expenses and "borrower" as a state resident who has taken out or is obligated to repay such a loan. The act will take effect 180 days after becoming law, with immediate authorization for developing necessary implementing regulations.

Business and Industry, Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/S1673