Establishes loan program to encourage undergraduates to enter teaching field in academic areas of critical teacher shortage in New York state; provides for selection of candidates based on academic study in critical areas as determined by the regents; sets duration of loan and amounts available.
STATE OF NEW YORK ________________________________________________________________________ 4628 2011-2012 Regular Sessions IN ASSEMBLY February 4, 2011 ___________Introduced by M. of A. RAIA, TEDISCO, GIGLIO, KOLB -- Multi-Sponsored by -- M. of A. BURLING, BUTLER, CONTE, FITZPATRICK, McDONOUGH, McKEVITT, OAKS -- read once and referred to the Committee on Higher Education AN ACT to amend the education law, in relation to creating the regents teacher shortage loan forgiveness program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The education law is amended by adding a new section 237-a to read as follows: S 237-A. CRITICAL SHORTAGES IN COMMON BRANCH SUBJECT AREAS. THE REGENTS SHALL, ONCE EVERY FOUR YEARS, REVIEW THE SUPPLY AND DEMAND FOR PUBLIC SCHOOL CLASSROOM TEACHERS TO DETERMINE THE EXISTENCE AND POTEN- TIAL EXISTENCE OF CRITICAL SHORTAGES IN ANY OF THE COMMON BRANCH SUBJECT AREAS FOR THE PURPOSE OF DETERMINING ELIGIBILITY CATEGORIES FOR THE REGENTS TEACHER SHORTAGE LOAN FORGIVENESS PROGRAM PURSUANT TO SECTION SIX HUNDRED SEVENTY-SEVEN-B OF THIS CHAPTER. S 2. The education law is amended by adding a new section 677-b to read as follows: S 677-B. REGENTS TEACHER SHORTAGE LOAN FORGIVENESS PROGRAM. 1. NUMBER AND CERTIFICATION. ONE THOUSAND ELIGIBLE CANDIDATES SHALL BE SELECTED ANNUALLY ON A COMPETITIVE BASIS TO PARTICIPATE IN THE REGENTS TEACHER SHORTAGE LOAN FORGIVENESS PROGRAM. CANDIDATES MUST HAVE SUCCESSFULLY COMPLETED AT LEAST THE SECOND YEAR OF UNDERGRADUATE STUDY AND MUST DEMONSTRATE TO THE SATISFACTION OF THE COMMISSIONER ACADEMIC STUDY IN ANY OF THE COMMON BRANCH AREAS OF CRITICAL TEACHER SHORTAGES, AS DETER- MINED BY THE REGENTS. 2. DURATION. UPON ISSUANCE OF A PROVISIONAL OR PERMANENT CERTIFICATION AND EMPLOYMENT IN A PUBLIC SCHOOL LOCATED IN NEW YORK STATE, EACH CANDI- DATE SHALL COMMENCE PARTICIPATION IN THE REGENTS TEACHER SHORTAGE LOAN FORGIVENESS PROGRAM. PARTICIPATION SHALL CONTINUE UNTIL ANY OF THE FOLLOWING OCCURS:EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06618-01-1 A. 4628 2
A. THE CANDIDATE'S QUALIFIED OUTSTANDING LOANS ARE REPAID; B. THE CANDIDATE LEAVES THE TEACHING PROFESSION; C. THE CANDIDATE NO LONGER RESIDES IN NEW YORK STATE; D. THE CANDIDATE DEFAULTS ON ANY HIGHER EDUCATION GUARANTEED LOAN. 3. AMOUNT. UPON CERTIFICATION OF ELIGIBILITY BY THE COMMISSIONER TO THE PRESIDENT OF THE HIGHER EDUCATION SERVICES CORPORATION, THE PRESI- DENT SHALL MAKE ANNUAL PAYMENTS TO THE CANDIDATE, OR AT THE PRESIDENT'S DISCRETION DIRECTLY TO THE LENDER ON BEHALF OF THE CANDIDATE, IN AN AMOUNT EQUAL TO THE LESSER OF ONE THOUSAND DOLLARS OR ONE-HALF OF THE TOTAL PRINCIPAL OF FEDERAL AND NEW YORK STATE GUARANTEED STUDENT LOANS DIVIDED BY THE PERIOD OF REPAYMENT, AS PRESCRIBED BY THE PRESIDENT. S 3. The regents of the state university may adopt any rules or regu- lations necessary for the implementation of this act. S 4. This act shall take effect on the first of April next succeeding the date on which it shall have become a law.