Enacts the empire engineers initiative act; provides partial student loan repayment for students who are employed as engineers in the state of New York for five years following their graduation.
TITLE OF BILL:
An act to amend the education law, in relation to the empire engineers initiative act
To create an incentive program to increase the number of engineers serving in New York City and the rest of the state.
SUMMARY OF PROVISIONS:
Section 1. Provides that this act shall be known and may be cited as "the Empire Engineers Initiative Act."
Section 2. Adds a new section 679-g to the education law to establish the New York State engineers loan forgiveness program for the purpose of increasing the number of engineers serving in New York City and the rest of the state. The program would provide for loan repayment assistance to individuals attending SUNY/CUNY who major in Science, Technology, Engineering and Mathematics (STEM) fields and promise to work in a qualifying engineering capacity in New York for at least five years after graduation or New Yorkers who go out of state for school, major in STEM fields, carry significant student loan debt and then return to New York after graduation to work in a qualifying engineering field for at least five years.
Section 3. Effective date.
This legislation would create the New York State engineer's loan forgiveness program, a joint city-state financial aid program for students who major in engineering and commit to working in New York for at least five years after graduation. Individuals would have up to 50% of their loans repaid by the State/City. This program would provide loan repayment assistance to: a) individuals attending SUNY/CUNY who major in STEM fields and promise to work in a qualifying engineering capacity for at least five years in New York following graduation and b) New Yorkers who go out of state for school, major in STEM fields, carry significant student loan debt, and then return to New York after graduation to work in a qualifying engineering field for at least five years.
Currently, there is a large, growing gap keeping many recent graduates out of the field and discouraging talented students from starting their careers in New York. A recent report by Manhattan Borough President Scott Stringer shows that by recruiting engineers and boosting an entrepreneurial sector, we can revitalize New York's economy. Currently, only 7.5% of African Americans and 4.9% of Latinos hold graduate or professional degrees, while women only make up 24% of STEM and 14% of engineering jobs. In addition to making sure that the doors of the entrepreneurial economy are open to all New Yorkers, the State should do more to retain students who come to New York from around the country and the world for college and graduate school. By
creating a loan forgiveness program that is a joint partnership between the public and private sector, opportunities and incentives to enter the field of engineering would be greater than ever before.
2013-14: S5660-A/A7811-A - Higher Education/Higher Education
To be determined.
This act shall take effect on the first of January next succeeding the date on which it shall have become a law.
STATE OF NEW YORK ________________________________________________________________________ 1221 2015-2016 Regular Sessions IN SENATE January 9, 2015 ___________Introduced by Sen. CARLUCCI -- 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 the empire engineers initiative act THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as "the empire engineers initiative act". S 2. The education law is amended by adding a new section 679-g to read as follows: S 679-G. NEW YORK STATE ENGINEERS LOAN FORGIVENESS PROGRAM. 1. PURPOSE. THE PRESIDENT SHALL GRANT STUDENT LOAN FORGIVENESS AWARDS FOR THE PURPOSE OF INCREASING THE NUMBER OF ENGINEERS SERVING IN NEW YORK CITY AND THE REST OF THE STATE. 2. ELIGIBILITY. TO BE ELIGIBLE FOR AN AWARD PURSUANT TO THIS SECTION, APPLICANTS SHALL (A) HAVE RECEIVED A DEGREE IN ENGINEERING FROM AN ACCREDITED COLLEGE OR UNIVERSITY; (B) COMPLY WITH SUBDIVISIONS THREE AND FIVE OF SECTION SIX HUNDRED SIXTY-ONE OF THIS PART; (C) HAVE AN OUTSTANDING STUDENT LOAN DEBT; AND (D) ENTER INTO A CONTRACT WITH THE CORPORATION TO PERFORM ENGINEERING SERVICES WITHIN THE STATE. 3. AWARDS. THE CORPORATION SHALL GRANT AWARDS IN AN AMOUNT EQUAL TO FIFTY PERCENT OF THE TOTAL TUITION CHARGED TO THE STUDENT BY ALL SCHOOLS OR FIFTY PERCENT OF THE TOTAL TUITION CHARGED TO A STATE RESIDENT STUDENT ATTENDING AN ENGINEERING PROGRAM AT THE STATE UNIVERSITY OF NEW YORK, WHICHEVER IS LESS PRIOR TO THE APPLICATION OF ANY SCHOLARSHIPS, GRANTS, OR OTHER FINANCIAL AWARDS. AWARDS SHALL BE WITHIN THE AMOUNTS APPROPRIATED FOR SUCH PURPOSE AND BASED ON AVAILABILITY OF FUNDS. 4. CONVERSION. 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) AT ANY POINT IN THE FIVE YEAR PERIOD AFTER RECEIPT OF SUCH AWARD THE RECIP-EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01735-01-5 S. 1221 2
IENT IS NOT EMPLOYED AS AN ENGINEER LOCATED WITHIN NEW YORK STATE; OR (B) A RECIPIENT FAILS TO RESPOND TO REQUESTS BY THE CORPORATION REGARD- ING HIS OR HER PROFESSIONAL STATUS. 5. RULES AND REGULATIONS. THE CORPORATION IS AUTHORIZED TO PROMULGATE RULES AND REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THE PROVISIONS OF THIS SECTION, INCLUDING A METHOD FOR DETERMINING THE PRIORITY IN WHICH AWARDS ARE DISTRIBUTED. WHEN DETERMINING RULES CONCERNING PRIORI- TY, THE CORPORATION SHALL TAKE SUCH ACTION TO ENSURE THAT THE INTENT OF THIS SECTION IS FULFILLED, AND SHALL GIVE PREFERENCE TO INDIVIDUALS WHO RECEIVED THEIR DEGREE FROM A NEW YORK BASED COLLEGE OR UNIVERSITY. IN THE EVENT THAT THERE ARE MORE APPLICANTS WHO HAVE THE SAME PRIORITY THAN THERE ARE REMAINING AWARDS, THE CORPORATION SHALL PROVIDE IN REGULATION THE METHOD OF DISTRIBUTING THE REMAINING NUMBER OF SUCH AWARDS, WHICH MAY INCLUDE A LOTTERY OR OTHER FORM OF RANDOM SELECTION. S 3. This act shall take effect on the first of January next succeed- ing the date on which it shall have become a law.