NY A07111

Establishes the "New York student loan assistance and home purchase program" to be administered by a state agency with a director appointed by the agency chair.

Authorizes the program to consolidate all or a portion of applicants' student loans into mortgages or existing mortgages, with no limit on the amount of student debt that may be incorporated unless otherwise provided by law.

Establishes an application process for New York resident homeowners with student debt, excluding foreclosure status, home condition, and first-time homebuyer status from consideration criteria.

Requires program participants to maintain the purchased home as their primary residence for at least five years from closing, with penalties and fees for violations to be established by the Commissioner of Housing and Community Renewal.

Directs the Commissioner of Housing and Community Renewal to promulgate rules establishing eligibility requirements, interest rates, and other charges necessary to implement the program; takes effect 180 days after enactment.