Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jul 15, 2024 |
enacting clause stricken |
Mar 21, 2024 |
print number 4515a |
Mar 21, 2024 |
amend and recommit to banks |
Jan 03, 2024 |
referred to banks |
Feb 16, 2023 |
referred to banks |
Assembly Bill A4515A
2023-2024 Legislative Session
Sponsored By
ZEBROWSKI
Current Bill Status - Stricken
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
Kimberly Jean-Pierre
Aileen Gunther
Jo Anne Simon
Clyde Vanel
multi-Sponsors
Vivian Cook
Donna Lupardo
2023-A4515 - Details
2023-A4515 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4515 2023-2024 Regular Sessions I N A S S E M B L Y February 16, 2023 ___________ Introduced by M. of A. ZEBROWSKI, JEAN-PIERRE, GUNTHER, SIMON, VANEL -- Multi-Sponsored by -- M. of A. COOK, LUPARDO -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to including information concerning repayment of outstanding loans in the standard financial aid award letter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 9-w of the banking law, as amended by section 1 of part CC of chapter 54 of the laws of 2016, is amended to read as follows: § 9-w. Standard financial aid award letter. The superintendent [of financial services] in consultation with the president of the higher education services corporation shall develop a standard financial aid award letter which shall clearly delineate (a) the estimated cost of attendance, including but not limited to, the cost of tuition and fees, room and board, books, and transportation. Such standard letter shall provide the estimated cost of attendance for the current academic year as well as estimates for each academic year that the student would need to attend to earn a degree at such institution with a disclaimer that the cost of attendance for years other than the current academic year are estimates and may be subject to change, (b) all financial aid offered from the federal government, the state, and the institution with an explanation as to which components will require repayment, (c) any expected student and/or family contribution, (d) campus-specific gradu- ation, median borrowing, and loan default rates, [and] (e) THE ESTIMATED LOAN REPAYMENT IMPACT USING A STANDARD TEN YEAR REPAYMENT TERM AND ASSUMED INTEREST RATE ON THE CURRENT AMOUNT OF OUTSTANDING LOANS INCLUD- ING TOTAL EXPECTED PAYOFF AMOUNT INCLUSIVE OF PRINCIPAL AND INTEREST, AND EXPECTED MONTHLY PAYMENT, AND (F) any other information as deter- mined by the superintendent in consultation with the president. Such EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04743-01-3
co-Sponsors
Kimberly Jean-Pierre
Aileen Gunther
Jo Anne Simon
Clyde Vanel
multi-Sponsors
Vivian Cook
Donna Lupardo
2023-A4515A (ACTIVE) - Details
2023-A4515A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4515--A 2023-2024 Regular Sessions I N A S S E M B L Y February 16, 2023 ___________ Introduced by M. of A. ZEBROWSKI, JEAN-PIERRE, GUNTHER, SIMON, VANEL, EACHUS -- Multi-Sponsored by -- M. of A. COOK, LUPARDO -- read once and referred to the Committee on Banks -- recommitted to the Committee on Banks in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to including information concerning repayment of outstanding loans in the standard financial aid award letter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 9-w of the banking law, as amended by section 1 of part CC of chapter 54 of the laws of 2016, is amended to read as follows: § 9-w. Standard financial aid award letter. The superintendent [of financial services] in consultation with the president of the higher education services corporation shall develop a standard financial aid award letter which shall clearly delineate (a) the estimated cost of attendance, including but not limited to, the cost of tuition and fees, room and board, books, and transportation. Such standard letter shall provide the estimated cost of attendance for the current academic year as well as estimates for each academic year that the student would need to attend to earn a degree at such institution with a disclaimer that the cost of attendance for years other than the current academic year are estimates and may be subject to change, (b) all financial aid offered from the federal government, the state, and the institution with an explanation as to which components will require repayment, (c) any expected student and/or family contribution, (d) campus-specific gradu- ation, median borrowing, and loan default rates, [and] (e) THE ESTIMATED LOAN REPAYMENT IMPACT USING ACTUAL TERMS, EXPECTED REPAYMENT SCHEDULE AND PAYOFF AMOUNTS OR, WHERE SUCH INFORMATION IS NOT AVAILABLE OR FIXED EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04743-03-4
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.