Bill > A06329

This bill modifies the New York State Science, Technology, Engineering and Mathematics (STEM) Incentive Program by changing the conditions under which a scholarship award can be converted to a student loan. Currently, recipients must fulfill specific requirements after completing an undergraduate STEM degree, such as working full-time in a STEM field within New York State. The bill introduces several key changes: it clarifies that recipients must complete five years of full-time employment in a STEM field within eight years of graduating, allows for more flexibility in maintaining residency during employment, and uses gender-neutral language. The bill also maintains provisions for deferring loan conversion for those pursuing graduate or professional degrees, and provides discretion for the corporation to waive or suspend financial obligations in cases of extreme hardship. Additionally, the bill preserves the existing provision that any obligation is cancelled upon the recipient's death. These modifications aim to provide more clarity and flexibility for students participating in the STEM Incentive Program while still encouraging graduates to work in STEM fields within New York State.

Education

https://www.nysenate.gov/legislation/bills/2025/A6329