§ 669-d. New York state math and science teaching incentive program.
1. Eligibility. Notwithstanding subdivision five of section six hundred
sixty-one of this part, undergraduate and/or graduate students who are
matriculated in an approved undergraduate or graduate program at degree
granting institutions leading to a career as a math or science teacher
in secondary education shall be eligible for an award under this
section, provided the applicant: (a) signs a contract with the
corporation agreeing to teach in the classroom on a full-time basis for
five years in the field of math or science in a school located within
New York state providing secondary education recognized by the board of
regents or the university of the state of New York; and (b) complies
with the applicable provisions of this article and all requirements
promulgated by the corporation for the administration of the program.

2. Within amounts appropriated therefor, awards shall be granted to
applicants that the corporation has certified are eligible to receive
such awards. Up to five hundred awards may be made to new recipients
annually. Such awards shall be made to recipients after the successful
completion of each academic year, as defined by the corporation.

3. An award shall entitle the recipient to annual payments for not
more than four academic years of full-time undergraduate study and one
academic year of full-time graduate study leading to certification as a
classroom teacher in mathematics or science.

4. Recipients shall receive an annual payment for the successful
completion of an academic year, equal to the annual tuition charged to
state resident students attending an undergraduate program full-time at
the state university of New York, or actual tuition charged, whichever
is less.

5. 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) two years after the
completion of the degree program and receipt of initial certification it
is found that a recipient is not teaching in the field of math or
science in a school located within New York state providing secondary
education recognized by the board of regents or the university of the
state of New York; or (b) a recipient has not taught in the field of
math or science in a school located within New York state providing
secondary education recognized by the board of regents or the university
of the state of New York for five of the seven years after the
completion of the degree program and receipt of initial certification;
or (c) a recipient fails to complete their degree program or changes
majors to an undergraduate degree program other than in science or math;
or (d) a recipient fails to receive or maintain their teaching
certificate or license in New York state; or (e) 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 any interruption in undergraduate or
graduate study or employment as established by the rules and regulations
of the corporation. 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.

6. The corporation is authorized to promulgate rules and regulations
necessary for the implementation of the provisions of this section,
including the criteria for the provision of awards on a competitive
basis and the rate of interest charged for repayment of the student
loan.