Creates the child care professionals loan forgiveness incentive program for applicants who agree to engage in employment in the child care field; establishes the eligibility for such awards; establishes the amount and duration of such awards.
STATE OF NEW YORK
________________________________________________________________________
5722
2023-2024 Regular Sessions
IN SENATE
March 15, 2023
___________
Introduced by Sen. KENNEDY -- 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 child
care professionals loan forgiveness incentive program
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 605 of the education law is amended by adding a new
2 subdivision 13 to read as follows:
3 13. New York state child care professionals loan forgiveness incentive
4 program. a. Purpose. The president shall grant student loan forgiveness
5 awards for the purpose of increasing the number of child care profes-
6 sionals employed in New York state. Such awards shall be made on a
7 competitive basis to applicants who have graduated from an institution
8 of higher education approved or registered by the regents.
9 b. Eligibility. (1) To be eligible to receive an award pursuant to
10 this subdivision, an applicant must be a resident of New York state who
11 has graduated from an institution of higher education and has an
12 outstanding student loan debt.
13 (2) Such awards shall be made annually to eligible applicants who,
14 prior to accepting such awards, engaged in twelve months of service as a
15 child care professional in a child day care facility licensed or regis-
16 tered pursuant to the social services law or the administrative code of
17 the city of New York and such awards shall not exceed an amount of twen-
18 ty-five thousand dollars and shall be made to such applicants, pursuant
19 to the following schedule:
20 (i) twenty percent to be awarded upon the completion of the first
21 year;
22 (ii) twenty percent to be awarded upon the completion of the second
23 year;
24 (iii) twenty percent to be awarded upon the completion of the third
25 year;
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00265-01-3
S. 5722 2
1 (iv) twenty percent to be awarded upon the completion of the fourth
2 year; and
3 (v) twenty percent to be awarded upon the completion of the fifth
4 year.
5 (3) Recipients of such awards shall be eligible to apply for other
6 awards established under this chapter.
7 c. Duration. Such awards shall be made annually, for no more than five
8 years, to applicants who remain eligible under this subdivision and who
9 are certified as such by the corporation.
10 d. Amount. The corporation shall grant such awards within the amounts
11 appropriated for such purpose and based on the availability of funds in
12 an amount not to exceed the total cost of the completion of such degree
13 programs. Cost of completion of such degrees shall include: tuition at
14 an institution of higher education approved or registered by the regents
15 and other required or reasonable student fees.
16 § 2. This act shall take effect immediately.
