8 CRR-NY 2201.6NY-CRR
8 CRR-NY 2201.6
8 CRR-NY 2201.6
2201.6 New York State Nursing Faculty Loan Forgiveness Incentive Program.
(a) Authority.
The provisions contained within this regulation are made pursuant to authority granted to the Higher Education Services Corporation in sections 653, 655, and 679-d of the Education Law.
(b) Definitions.
(1) Year or academic year means one calendar year beginning July 1st and concluding on June 30th.
(2) Nursing Degree Program means those classes that are related to the diploma or degree in professional nursing (including non-nursing electives) and to classes in doctoral programs that qualify applicants as nursing faculty or adjunct clinical faculty, but does not include classes or loans obtained for a non-nursing degree.
(3) Faculty means a position that is primarily teaching, rather than administrative or research.
(4) Loans means New York State or Federal governmental loans, or loans made by commercial entities subject to governmental examination, related to the nursing degree program. It does not, however, include parent PLUS loans, or loans that may be canceled under any other program including Perkins loans, or private loans given for example by family or friends, or student loan debts paid via credit card.
(c) Eligibility.
In addition to those requirements already provided in sections 661 and 679-d of the Education Law, these additional requirements shall apply in the selection of the program recipients:
(1) applications for the New York State Nursing Faculty Loan Forgiveness Incentive Program shall be postmarked or electronically transmitted no later than August 1st of each year, provided that this deadline may be extended at the discretion of the corporation;
(2) applications shall be filed annually on forms prescribed by the corporation;
(3) the pool of applicants shall be those who have successfully met the filing deadline;
(4) applications shall be for prior academic year faculty services, except as provided in paragraph (5) of this subdivision;
(5) applications for retroactive awards for faculty services provided between January 1, 2001 and June 30, 2004 shall be received by January 1, 2006;
(6) eligibility for loan forgiveness is based on the duties presented in an official position description, not on the position title;
(7) recipients shall receive loan forgiveness if they are simultaneously teaching in a part-time status at more than one nursing school, provided that the total number of credit hours is in conformity with the requirements of this program;
(8) recipients shall receive loan forgiveness only for those classes applicable to their nursing degree programs, or to the doctoral program that qualified them as nursing faculty or adjunct clinical faculty, not for loans obtained for a non-nursing degree;
(d) Disqualifications.
The applicant shall be disqualified from receiving an award for any of the following conditions:
(1) The applicant has a service obligation owed to any other State or Federal program.
(2) The applicant has loans for which documentation is not available.
(3) The applicant has loans without a promissory note.
(4) The applicant is in default on a federally guaranteed student loan, except if the loan is guaranteed by the corporation.
(5) The applicant's loans are paid in full.
(e) Amounts.
(1) Recipients who had received awards prior to June 23, 2006 shall be paid according to the following schedule:
(i) 10 percent to be awarded upon completion of the first year;
(ii) 20 percent to be awarded upon completion of the second year;
(iii) 30 percent to be awarded upon completion of the third year;
(iv) 30 percent to be awarded upon completion of the fourth year;
(v) the balance or remainder of the award to be paid upon completion of the fifth year;
(vi) the annual award shall be a simple percentage of the maximum allowable cap which is the lesser of $40,000 or the cumulative amount of the outstanding loans and not a percentage of the amount left over from the previous year's award.
(2) Awards made on or after June 23, 2006 shall be paid pursuant to section 679-d of the Education Law.
(3) The maximum lifetime value of the loan forgiveness shall not exceed the amount of eligible student loan debt that was documented with the corporation in the first year of the applicant's participation or $40,000, whichever is less.
(4) The corporation may offset any portion of the loan forgiveness if the applicant is in default on a student loan guaranteed by the corporation.
(f) Priorities.
If there are more applicants than available funds appropriated by the legislature in any fiscal year, the following provisions shall apply:
(1) first priority shall be given to eligible applicants who have received payment of an award pursuant to section 679-d of the Education Law for the preceding academic year of qualified service;
(2) second priority shall be given to eligible applicants who have received payment of an award pursuant to section 679-d of the Education Law for any prior academic year of qualified service; and
(3) third priority shall be given to eligible applicants, including re-applicants, who have never received an award and who meet the minimum eligibility requirements;
(4) in the event of a tie within any given priority, recipients shall be chosen by random selection. Random selection shall be conducted by lottery. Lottery shall be the preferred manner of all tie breaking.
8 CRR-NY 2201.6
Current through July 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.