S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4890
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 8, 2021
                                ___________
 
 Introduced by M. of A. PICHARDO -- read once and referred to the Commit-
   tee on Higher Education
 
 AN  ACT  to amend the education law, in relation to the establishment of
   the PRODi-G EOP to PhD loan forgiveness program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Section 355 of the education law is amended by adding a new
 subdivision 21 to read as follows:
   21. PRODI-G EOP TO PHD LOAN FORGIVENESS PROGRAM. A. PROGRAM.  NOTWITH-
 STANDING  ANY  PROVISION OF LAW, RULE OR REGULATION TO THE CONTRARY, THE
 STATE UNIVERSITY TRUSTEES ARE AUTHORIZED TO GRANT STUDENT LOAN  FORGIVE-
 NESS  AWARDS PURSUANT TO THIS SUBDIVISION IN ORDER TO RECRUIT AND RETAIN
 FACULTY MEMBERS FROM DIVERSE AND  UNDERREPRESENTED  BACKGROUNDS  AT  THE
 STATE UNIVERSITY OF NEW YORK.
   B. ELIGIBILITY. FIRST PRIORITY FOR AWARDS PURSUANT TO THIS SUBDIVISION
 SHALL  GO  TO APPLICANTS WHO WERE PREVIOUSLY ENROLLED IN THE EDUCATIONAL
 OPPORTUNITY PROGRAM AS DEFINED IN SECTION SIXTY-FOUR  HUNDRED  FIFTY-TWO
 OF  THIS  CHAPTER. TO BE ELIGIBLE FOR AN AWARD PURSUANT TO THIS SUBDIVI-
 SION, AN APPLICANT SHALL: (I) HAVE GRADUATED FROM A HIGH SCHOOL  LOCATED
 IN  NEW  YORK STATE OR ATTENDED AN APPROVED NEW YORK STATE PROGRAM FOR A
 STATE HIGH SCHOOL EQUIVALENCY DIPLOMA  AND  RECEIVED  SUCH  HIGH  SCHOOL
 EQUIVALENCY  DIPLOMA; (II) HAVE GRADUATED AND OBTAINED A GRADUATE DEGREE
 FROM A COLLEGE OR UNIVERSITY FROM THE STATE UNIVERSITY OF NEW YORK IN OR
 AFTER THE TWO  THOUSAND  TWENTY-ONE--TWO  THOUSAND  TWENTY-TWO  ACADEMIC
 YEAR;  (III)  APPLY  FOR THIS PROGRAM WITHIN TWO YEARS OF OBTAINING SUCH
 DEGREE; AND (IV) BE EMPLOYED AS AN ELIGIBLE FACULTY MEMBER, AT THE STATE
 UNIVERSITY OF NEW YORK. THE STATE UNIVERSITY OF NEW YORK  MAY  ESTABLISH
 ADDITIONAL ELIGIBILITY CRITERIA AS IT DEEMS NECESSARY AND APPROPRIATE.
   C. SELECTION PROCESS. THE STATE UNIVERSITY OF NEW YORK SHALL ESTABLISH
 A  PROCESS  FOR SELECTING AWARD RECIPIENTS, INCLUDING BUT NOT LIMITED TO
 SETTING APPLICATION SUBMISSION REQUIREMENTS AND A  METHOD  OF  SELECTING
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08324-01-1

 A. 4890                             2
 
 RECIPIENTS  IF  THERE  ARE  INSUFFICIENT FUNDS TO COVER THE NEEDS OF ALL
 APPLICANTS.
   D.  AWARDS.  LOAN  FORGIVENESS  AWARDS  MAY BE GRANTED TO REIMBURSE AN
 AWARD RECIPIENT'S STUDENT LOAN EXPENSES UP TO A MAXIMUM OF TEN  THOUSAND
 DOLLARS PER QUALIFYING YEAR OF ACADEMIC SERVICE, AS DEFINED BY THE STATE
 UNIVERSITY  OF  NEW YORK, UP TO A MAXIMUM OF FIVE YEARS. AWARDS SHALL BE
 GRANTED WITHIN THE AMOUNTS APPROPRIATED FOR SUCH PURPOSE  AND  BASED  ON
 THE  AVAILABILITY  OF  FUNDS.  FOR  THE  PURPOSES  OF  THIS SUBDIVISION,
 "STUDENT LOAN EXPENSE" SHALL MEAN THE TOTAL LOAN BALANCE REQUIRED TO  BE
 PAID BY THE AWARD RECIPIENT ON THE CUMULATIVE TOTAL OF THE AWARD RECIPI-
 ENT'S  OUTSTANDING  STUDENT LOANS COVERING HIS OR HER COST OF ATTENDANCE
 AT AN UNDERGRADUATE INSTITUTION AND/OR GRADUATE SCHOOL, AT THE  TIME  OF
 THE  AWARD  RECIPIENT'S  FIRST APPLICATION FOR REIMBURSEMENT.   INTEREST
 PAID OR DUE ON SUCH LOANS SHALL BE CONSIDERED ELIGIBLE FOR REIMBURSEMENT
 UNDER THIS PROGRAM. FOR PURPOSES OF THIS CALCULATION, THE AMOUNT OF  THE
 STUDENT  LOAN EXPENSES SHALL BE REDUCED BY ANY GRANTS, LOAN FORGIVENESS,
 OR SIMILAR REDUCTIONS TO THE  FACULTY  MEMBER'S  INDEBTEDNESS  THAT  THE
 FACULTY MEMBER HAS RECEIVED OR SHALL RECEIVE, INCLUDING, BUT NOT LIMITED
 TO,  GRADUATE  SCHOOL  LOAN FORGIVENESS AND PUBLIC SERVICE SCHOLARSHIPS.
 THE STATE UNIVERSITY  OF  NEW  YORK  IS  AUTHORIZED  TO  IMPOSE  SERVICE
 REQUIREMENTS  OR  OTHER  SIMILAR  CONDITIONS UPON ACCEPTANCE OF AN AWARD
 PURSUANT TO THIS SUBDIVISION.
   E. RULES AND REGULATIONS. THE STATE UNIVERSITY OF NEW YORK IS  AUTHOR-
 IZED  TO  PROMULGATE RULES AND REGULATIONS, AND MAY PROMULGATE EMERGENCY
 REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THE PROVISIONS  OF  THIS
 SUBDIVISION.
   § 2. This act shall take effect immediately.