Loading chat...
NY A00241
Bill
Status
1/8/2025
Primary Sponsor
William Magnarelli
Click for details
AI Summary
-
Creates the New York State Child Care Professionals Loan Forgiveness Incentive Program to increase the number of child care professionals employed in the state
-
Requires applicants to be New York residents who graduated from a regents-approved institution of higher education with outstanding student loan debt
-
Awards up to $25,000 in loan forgiveness to eligible applicants who work in licensed or registered child day care facilities
-
Distributes forgiveness over five years at 20% per year upon completion of each year of service as a child care professional
-
Recipients remain eligible to apply for other state educational awards established under the education law
Legislative Description
Creates the child care professionals loan forgiveness incentive program for applicants who agree to engage in employment in the child care field; establishes the eligibility for such awards; establishes the amount and duration of such awards.
Last Action
referred to higher education
1/7/2026