A02703 Summary

• Establishes the Charles L. Reason fellowship program awarding grants to New York degree-granting institutions to increase underrepresented minority students in academic programs leading to Ph.D. or terminal degrees and faculty careers.

• Undergraduate fellowship funds may support tutoring, counseling, faculty mentorship, supplemental financial assistance, program administration, summer research, and student travel for academic conferences.

• Eligible undergraduate students must be New York residents (or meet alternative immigration/residency requirements), from historically underrepresented minority groups in academic faculty, demonstrate interest in earning a terminal degree and teaching at the collegiate level, and maintain good academic standing.

• Provides loan forgiveness up to $10,000 per year (maximum $40,000 lifetime) for fellowship graduates who enroll in Ph.D. or similar terminal academic degree programs within four years of earning a bachelor's degree, covering qualifying federal and state student loan debt.

• Requires participating institutions to submit reports to the commissioner and mandates annual reporting to state leadership and the Board of Regents on program effectiveness, student numbers served, and future plans.