N.Y. Education Law § 669-e: New York state science, technology, engineering and mathematics incentive program

§ 669-e. New York state science, technology, engineering and

mathematics incentive program. 1. Undergraduate students who are

matriculated in an approved undergraduate program leading to a career in

science, technology, engineering or mathematics at a New York state

public institution of higher education for the purpose of subdivision

two of this section, or a New York state private degree granting

institution of higher education for the purpose of subdivision two-a of

this section, shall be eligible for an award under this section,

provided the applicant: (a) graduates from a high school located in New

York state during or after the two thousand thirteen--fourteen school

year; and (b) graduates within the top ten percent of his or her high

school class; and (c) enrolls in full-time study each term beginning in

the fall term after his or her high school graduation in an approved

undergraduate program in science, technology, engineering or

mathematics, as defined by the corporation, at a New York state

institution of higher education; and (d) signs a contract with the

corporation agreeing that his or her award will be converted to a

student loan in the event the student fails to comply with the terms of

this program as set forth in subdivision four of this section; and (e)

complies with the applicable provisions of this article and all

requirements promulgated by the corporation for the administration of

the program.

2. Awards shall be granted beginning with the two thousand

fourteen--two thousand fifteen academic year and thereafter to

applicants at New York state public institutions of higher education

that the corporation has determined are eligible to receive such awards.

The corporation shall grant such awards in an amount equal to the amount

of undergraduate tuition for residents of New York state charged by the

state university of New York or actual tuition charged, whichever is

less; provided, however, (i) a student who receives educational grants

and/or scholarships that cover the student's full cost of attendance

shall not be eligible for an award under this program; (ii) for a

student who receives educational grants and/or scholarships that cover

less than the student's full cost of attendance, such grants and/or

scholarships shall not be deemed duplicative of this program and may be

held concurrently with an award under this program, provided that the

combined benefits do not exceed the student's full cost of attendance;

and (iii) an award under this program shall be applied to tuition after

the application of all other educational grants and scholarships limited

to tuition and shall be reduced in an amount equal to such educational

grants and/or scholarships. Upon notification of an award under this

program, the institution shall defer the amount of tuition equal to the

award. No award shall be final until the recipient's successful

completion of a term has been certified by the institution.

2-a. Within amounts appropriated therefor and based on availability of

funds, beginning with the two thousand eighteen--two thousand nineteen

academic year and thereafter, awards shall be granted to applicants at

New York state private degree granting institutions of higher education

that the corporation has determined are eligible to receive such awards.

The corporation shall grant such awards in an amount equal to the amount

of undergraduate tuition for residents of New York state charged by the

state university of New York or actual tuition charged, whichever is

less; provided, however, (i) a student who receives educational grants

and/or scholarships that cover the student's full cost of attendance

shall not be eligible for an award under this program; (ii) for a

student who receives educational grants and/or scholarships that cover

less than the student's full cost of attendance, such grants and/or

scholarships shall not be deemed duplicative of this program and may be

held concurrently with an award under this program, provided that the

combined benefits do not exceed the student's full cost of attendance;

and (iii) an award under this program shall be applied to tuition after

the application of all other educational grants and scholarships limited

to tuition and shall be reduced in an amount equal to such educational

grants and/or scholarships. Upon notification of an award under this

program, the institution shall defer the amount of tuition equal to the

award. No award shall be final until the recipient's successful

completion of a term has been certified by the institution.

3. An eligible recipient shall not receive an award for more than four

academic years of full-time undergraduate study or five academic years

if the program of study normally requires five years, excluding any

allowable interruption of study.

4. The corporation shall convert to a student loan the full amount of

the award given pursuant to this section, plus interest, according to a

schedule to be determined by the corporation if: (a) a recipient fails

to complete an approved undergraduate program in science, technology,

engineering or mathematics or changes majors to a program of

undergraduate study other than in science, technology, engineering or

mathematics; or (b) upon completion of such undergraduate degree program

a recipient fails to either (i) complete five years of continuous full

time employment in the science, technology, engineering or mathematics

field with a public or private entity located within New York state, or

(ii) maintain residency in New York state for such period of employment;

or (c) a recipient fails to respond to requests by the corporation for

the status of his or her academic or professional progress. The terms

and conditions of this subdivision shall be deferred for individuals who

graduate with a degree in an approved undergraduate program in science,

technology, engineering or mathematics and enroll on at least a

half-time basis in a graduate or higher degree program or other

professional licensure degree program until they are conferred a degree,

and shall also be deferred for any interruption in undergraduate study

or employment as established by the rules and regulations of the

corporation. The terms and conditions of this subdivision may also be

deferred for a grace period, to be established by the corporation,

following the completion of an approved undergraduate program in

science, technology, engineering or mathematics a graduate or higher

degree program or other professional licensure degree program. Any

obligation to comply with such provisions as outlined in this section

shall be cancelled upon the death of the recipient. Notwithstanding any

provisions of this subdivision to the contrary, the corporation is

authorized to promulgate rules and regulations to provide for the waiver

or suspension of any financial obligation which would involve extreme

hardship.

5. The corporation is authorized to promulgate rules and regulations,

and may promulgate emergency regulations, necessary for the

implementation of the provisions of this section, including, but not

limited to, the rate of interest charged for repayment of the student

loan and the criteria for distributing the awards, which may include a

lottery or other form of random selection for awards distributed

pursuant to subdivision two-a of this section.