Establishes a loan forgiveness program for child care providers that have earned an undergraduate or graduate degree from a two or four year college or university in the state.
STATE OF NEW YORK
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3214
2023-2024 Regular Sessions
IN SENATE
January 30, 2023
___________
Introduced by Sen. CLEARE -- 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 establishing a loan
forgiveness program for child care providers
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. The New York state child care provider loan forgiveness
4 program. 1. Purpose. The president shall grant student loan forgiveness
5 awards for the purpose of increasing the number of child care providers,
6 as defined in section six hundred ninety-five-b of the labor law, serv-
7 ing in the state. Such awards shall be made on a competitive basis, in
8 accordance with rules and regulations promulgated by the corporation for
9 such purposes, to applicants who meet the eligibility criteria.
10 2. Eligibility. To be eligible for an award pursuant to this subdivi-
11 sion, applicants shall:
12 (a) have graduated and obtained an undergraduate or graduate degree
13 from an accredited two or four-year college or university located in New
14 York state;
15 (b) have outstanding student loan debt from obtaining such degree;
16 (c) comply with subdivision five of section six hundred sixty-one of
17 this part; and
18 (d) be employed full time in this state as a child care provider.
19 3. Awards. Awards shall be granted to qualified applicants in the
20 amount of up to ten thousand dollars per year, per applicant, not to
21 exceed a duration of four years and not to exceed the total amount of
22 such applicant's student loan debt. The corporation shall grant such
23 awards within amounts appropriated for such purposes and based on the
24 availability of funds. No one applicant shall receive more than a total
25 of forty thousand dollars upon the end of a four-year period.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08148-01-3
S. 3214 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.
