2023 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.