NY Educ L § 669-E (2021)
2021 New York Laws EDN - Education Title 1 - General Provisions Article 14 - New York State Higher Education Services Corporation Part 2 - Student Financial Aid Sub Part 2 - General Awards 669-E - New York State Science, Technology, Engineering and Mathematics Incentive Program.

§   669-e.   New  York  state  science,  technology,  engineering  and   mathematics  incentive  program.  1.  Undergraduate  students  who   are   matriculated in an approved undergraduate program leading to a career in   science,  technology,  engineering  or  mathematics  at a New York state   public institution of higher education for the  purpose  of  subdivision   two  of  this  section,  or  a  New  York  state private degree granting   institution of higher education for the purpose of subdivision two-a  of   this  section,  shall  be  eligible  for  an  award  under this section,   provided the applicant: (a) graduates from a high school located in  New   York  state  during  or after the two thousand thirteen--fourteen school   year; and (b) graduates within the top ten percent of his  or  her  high   school  class; and (c) enrolls in full-time study each term beginning in   the fall term after his or her high school  graduation  in  an  approved   undergraduate   program   in   science,   technology,   engineering   or   mathematics, as  defined  by  the  corporation,  at  a  New  York  state   institution  of  higher  education;  and  (d)  signs a contract with the   corporation agreeing that his or  her  award  will  be  converted  to  a   student  loan in the event the student fails to comply with the terms of   this program as set forth in subdivision four of this section;  and  (e)   complies  with  the  applicable  provisions  of  this  article  and  all   requirements promulgated by the corporation for  the  administration  of   the program.2.   Awards   shall   be  granted  beginning  with  the  two  thousand   fourteen--two  thousand  fifteen  academic  year   and   thereafter   to   applicants  at  New  York  state public institutions of higher education   that the corporation has determined are eligible to receive such awards.   The corporation shall grant such awards in an amount equal to the amount   of undergraduate tuition for residents of New York state charged by  the   state  university  of  New  York or actual tuition charged, whichever is   less; provided, however, (i) a student who receives  educational  grants   and/or  scholarships  that  cover  the student's full cost of attendance   shall not be eligible for an  award  under  this  program;  (ii)  for  a   student  who  receives educational grants and/or scholarships that cover   less than the student's full cost  of  attendance,  such  grants  and/or   scholarships  shall not be deemed duplicative of this program and may be   held concurrently with an award under this program,  provided  that  the   combined  benefits  do not exceed the student's full cost of attendance;   and (iii) an award under this program shall be applied to tuition  after   the application of all other educational grants and scholarships limited   to  tuition  and shall be reduced in an amount equal to such educational   grants and/or scholarships. Upon notification of  an  award  under  this   program,  the institution shall defer the amount of tuition equal to the   award.  No  award  shall  be  final  until  the  recipient's  successful   completion of a term has been certified by the institution.2-a. Within amounts appropriated therefor and based on availability of   funds,  beginning  with the two thousand eighteen--two thousand nineteen   academic year and thereafter, awards shall be granted to  applicants  at   New  York state private degree granting institutions of higher education   that the corporation has determined are eligible to receive such awards.   The corporation shall grant such awards in an amount equal to the amount   of undergraduate tuition for residents of New York state charged by  the   state  university  of  New  York or actual tuition charged, whichever is   less; provided, however, (i) a student who receives  educational  grants   and/or  scholarships  that  cover  the student's full cost of attendance   shall not be eligible for an  award  under  this  program;  (ii)  for  a   student  who  receives educational grants and/or scholarships that cover   less than the student's full cost  of  attendance,  such  grants  and/or   scholarships  shall not be deemed duplicative of this program and may be    held concurrently with an award under this program,  provided  that  the   combined  benefits  do not exceed the student's full cost of attendance;   and (iii) an award under this program shall be applied to tuition  after   the application of all other educational grants and scholarships limited   to  tuition  and shall be reduced in an amount equal to such educational   grants and/or scholarships. Upon notification of  an  award  under  this   program,  the institution shall defer the amount of tuition equal to the   award.  No  award  shall  be  final  until  the  recipient's  successful   completion of a term has been certified by the institution.3. An eligible recipient shall not receive an award for more than four   academic  years  of full-time undergraduate study or five academic years   if the program of study normally  requires  five  years,  excluding  any   allowable interruption of study.4.  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) a recipient fails   to complete an approved undergraduate program  in  science,  technology,   engineering   or   mathematics   or  changes  majors  to  a  program  of   undergraduate study other than in science,  technology,  engineering  or   mathematics; or (b) upon completion of such undergraduate degree program   a  recipient  fails to either (i) complete five years of continuous full   time employment in the science, technology, engineering  or  mathematics   field  with a public or private entity located within New York state, or   (ii) maintain residency in New York state for such period of employment;   or (c) 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 individuals who   graduate with a degree in an approved undergraduate program in  science,   technology,  engineering  or  mathematics  and  enroll  on  at  least  a   half-time basis  in  a  graduate  or  higher  degree  program  or  other   professional licensure degree program until they are conferred a degree,   and  shall  also be deferred for any interruption in undergraduate study   or employment as  established  by  the  rules  and  regulations  of  the   corporation.  The  terms  and conditions of this subdivision may also be   deferred for a grace period,  to  be  established  by  the  corporation,   following  the  completion  of  an  approved  undergraduate  program  in   science, technology, engineering or mathematics  a  graduate  or  higher   degree  program  or  other  professional  licensure  degree program. 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.5. The corporation is authorized to promulgate rules and  regulations,   and   may   promulgate   emergency   regulations,   necessary   for  the   implementation of the provisions of this  section,  including,  but  not   limited  to,  the  rate of interest charged for repayment of the student   loan and the criteria for distributing the awards, which may  include  a   lottery  or  other  form  of  random  selection  for  awards distributed   pursuant to subdivision two-a of this section.