Creates 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.
STATE OF NEW YORK
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5739
2025-2026 Regular Sessions
IN SENATE
February 28, 2025
___________
Introduced by Sen. SCARCELLA-SPANTON -- 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 New York
state public sector employee loan forgiveness program
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The education law is amended by adding a new section 679-k
2 to read as follows:
3 § 679-k. New York state public sector employee loan forgiveness
4 program. 1. Purpose. The president shall grant student loan forgiveness
5 awards for the purpose of attracting workers to be employed in the
6 public sector. Such awards shall be made on a competitive basis, in
7 accordance with rules and regulations promulgated by the corporation for
8 such purposes, to applicants who meet the eligibility criteria.
9 2. Eligibility. To be eligible for an award pursuant to this section,
10 applicants shall: (a) have graduated and obtained an undergraduate or
11 graduate degree from the state university of New York or city university
12 of New York; (b) be employed full-time in this state in a state or local
13 public sector position that requires the undergraduate or graduate
14 degree the applicant obtained from the state university of New York or
15 city university of New York; (c) have an outstanding student loan debt
16 from an undergraduate or graduate degree from the state university of
17 New York or city university of New York required for such applicant's
18 public sector employment; and (d) be a resident of this state.
19 3. Awards. The corporation shall grant awards pursuant to the amount
20 appropriated for such purpose and based on availability of funds in an
21 amount up to five thousand dollars per year, per applicant, not to
22 exceed a duration of ten years, and not to exceed the total remaining
23 balance of the applicant's student loan debt.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02455-01-5
S. 5739 2
1 4. Rules and regulations. The corporation is authorized to promulgate
2 rules and regulations and may promulgate emergency regulations necessary
3 for the implementation of the provisions of this section.
4 § 2. This act shall take effect immediately.
